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Ashleylaysongo
Answered



For a given interest rate, simple interest varies jointly as principal and time.
If Php 5,000 is invested for 5 years and earns an interest of Php 1500, how
much interest would Php 7,000 investment earn in 3 years?​

Sagot :

Answer:

PHP1,260

Step-by-step explanation:

I = RPT

Where:

  • I = simple interest
  • R = interest rate, the constant
  • P = Principal
  • T = Time

Find R, the constant interest rate:

1,500 = R (5,000)(5)

R = 1,500/25,000

R = 0.06  or  6%

Find I, the interest amount:

I = RPT

I = (0,06)(7,000)(3)

I = 1,260

The investment of 7,000 at the given interest will yield a simple interest of PHP1,260 in 3 years.

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