Sam invested Php25 000 at 16\% simple interest for 6 years. a. How much interest will be earned? b. What is the future value of the investment at the end of 6 years?
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To calculate the interest earned, we can use the formula: Interest = Principal x Rate x Time. In this case, the principal (P) is Php25,000, the rate (R) is 16%, and the time (T) is 6 years. So, the interest earned (I) can be calculated as: I = 25,000 x 0.16 x Show more…
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