[tex]\large{\mathcal{SOLUTION:}}[/tex]
Given:
- P = 6,340
- R = 5% or 0.05
- T = 5 years
[tex] \\ [/tex]
Using the formula of compound interest:
- F = P + P(1+R)^t
- F = 6,340 + 6,340(1+0.05)^5
- F = 6,340 + 6,340(1.05)^5
- F = 6,340 + 6,340(1.2763)
- F = 6,340 + 8091.742
- F = 14,431.742
Therefore, the final amount is Php 14,431.742
[tex] \\ [/tex]
[tex]\large{\mathcal{ANSWER:}}[/tex]
- The final amount is Php 14,431.742
[tex] \\ [/tex]
[tex]\boxed{\begin{array}{} \blue{\text{DONT RELY ON CHANCES,}} \\ \red{\text{ WORK FOR THE HARDEST }} \\ \end{array}}[/tex]
