How much money will you have after 4 years if you deposited P10,000 in a bank that pays 6% simple interest?
1 answer:
Answer:
Step-by-step explanation:
- Deposit = P 10000
- Interest rate = 6% simple per year
- Time = 4 years
<u>Total in 4 years:</u>
- 10000*(1 + 4*6/100) =
- 10000*1.24 =
- 12400
After 4 years the amount is P 12400
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