SOLUTION: Steve invested Php 10,000 in a savings bank account that earned 2% simple interest. What is the interest earned if the amount was kept in the bank for 4 years?

SOLUTION: Steve invested Php 10,000 in a savings bank account that earned 2% simple interest. What is the interest earned if the amount was kept in the bank for 4 years?

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Question 1145827: Steve invested Php 10,000 in a savings bank account that earned 2% simple interest. What is the interest earned if the amount was kept in the bank for 4 years?
Answer by ikleyn(52800) (Show Source): You can put this solution on YOUR website!
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The interest in 4 years is  I = 10000*0.02*4  Php.

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See the lesson
- Simple interest percentage problems
in this site to learn more on the simple interest.

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