1. Jenniah borrowed money from the bank amounting to ₱100 000.00. The interest rate of the bank is 5.5% a year. Find the total amount he has to pay in five years.

2. Paul deposited ₱80000.00i n a bank.How much interest will he earn in 3 years if the bank gives 1.5% simple interest annually?

3. Gino deposits ₱36000.00 i n a bank.This earns an interest rate of 2.5% per year. How much interest will he get after 4 years?

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Jamelbenibrahimgo Jamelbenibrahimgo · Answer 1

Answer:

1. F = P(1 + rt)

F = Future Amount = Unknown

P = Principal Amount = P 100,000

r = Interest Rate = 5.5% = 0.055

t = Number of years = 5 Years

[tex] = \: 100 \: 000 (1 + 5.5\% \times 5) \\ = 100 \: 000(1 + .055 \times 5) \\ = 100 \: 000(1 + 0.275) \\ = 100 \: 000(1.275) \\ = 127 \: 500[/tex]

Therefore, the total amount he has to pay in 5 years is P127,500.

2. I = Prt

I =Interest Amount = Unknown

P = Principal Amount = P 80,000

r = Interest Rate = 1.5% = 0.015

t = Number of years = 3 Years

[tex] = \: 80 \: 000 ( 1.5\% \times 3) \\ = 80 \: 000( 0.015 \times 3) \\ = 80 \: 000( 0.045) \\ = 3 \: 600[/tex]

Therefore, the interest amount after 3 years is P3,600.

3. I = rt

I = Interest Amount = Unknown

P = Principal Amount = P 36,000

r = Interest Rate = 2.5% = 0.035

t = Number of years = 4 Years

[tex] = \: 36 \: 000 (2.5\% \times 4) \\ = 36 \: 000(0.025 \times 4) \\ = 36 \: 000( 0.1) \\ = 3\: 600[/tex]

Therefore, the interest amount after 4 years is P3,600.

Step-by-step explanation:

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