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Arte-miy333 [17]
3 years ago
13

Financial literacy is not a priority of many Filipinos? Is it explicit or implicit

World Languages
1 answer:
lana66690 [7]3 years ago
4 0

Answer:

Explicit

Explanation:

An explicit statement is one that is clearly stated without hiding it's meaning. In explicit statements, the reader directly gets the true meaning of the information being passed without having to think deeply about any implied meanings.

In the statement above, it is very clear to the reader that "financial literacy is not a priority of many Filipinos". No deep thinking is required to understand this. Therefore, the statement is an explicit statement.

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The amount paid for the loan of $1500 at 9% for 2 years compound interest is $1782.15

<h3>How to determine the amount paid?</h3>

The given parameters are:

  • Principal, P = $1500
  • Rate, r = 9%
  • Time, t = 2 years

The amount paid is then calculated using:

A = P(1 + r)^t

So, we have:

A = 1500 * (1 + 9\%)^2

Evaluate the exponent

A = 1500 * 1.1881

Evaluate the product

A = 1782.15

Hence, the amount paid for the loan is $1782.15

Read more about amount at:

brainly.com/question/24924853

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