Answer:
✏PROBLEM:
3. Mr. Villahermoza borrowed P22,000.00 in her savings account. If the bank pays 1.5% interest per year, how much will she receive at the end of the year?
✏ANSWER:
[tex]22,330[/tex]
✏SOLUTION:
Given:
[tex]P = 22,000.00[/tex]
[tex]Rate = 1.5\%[/tex]
[tex]Time = 1 \: year[/tex]
Find:
Reiceve amount
Solution:
[tex]9nterst = \frac{22,000 \times 1.5\% \times 1}{100} \\ = 330[/tex]
[tex]Reicieve \: amount = 22,000 + 330 \\ = 22,330[/tex]
Hence answer: 22,330
