Answer:
(assuming simple interest)
I'll setup the problem and you can do the computation
Step-by-step explanation:
The formula for simple interest:
I = P*r*t
P = deposits
r = interest rate per period (a year)
t = number of periods
P = Php 23,200
r = 0.06
t = 1
If you have questions, send me a comment
Seventy four and twenty-one hundredths.
Answer: 20,000
Step-by-step explanation:
We can estimate the product of 5 and 4,257 by multiplying 5 by 4,000
5 * 4,000 = 20,000
The product of 5 and 4,257 is about 20,000
The real answer (not an estimate)
21,285
That is around 20,000 so we are correct