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Escultorbolandacrenago
Answered

2. At what simple interest rate per annum will P25,000 accumulate to
P33,000 in 5 years?​

Sagot :

Chujahgo

Answer:

Interest = Accumulated - Principal

= 33,000 - 25,000

= 8,000

Interest = Principal x Time x Rate (Simple Interest)

8,000 = 25,000 x 5 x Rate

Rate = (8,000) / (25,000 x 5)

Rate = 8,000 / 125,000

Rate = 0.064 or 6.4%

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