SOLUTION: If Ms. Sarmiento is investing Php 200,000.00 with a simple interest rate of 3.5% for 8 years, how much will the money of Ms. Sarmiento be after 8 years?

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Question 1198320: If Ms. Sarmiento is investing Php 200,000.00 with a simple interest rate of 3.5% for 8 years, how much will the money of Ms. Sarmiento be after 8 years?
Answer by ikleyn(52796)   (Show Source): You can put this solution on YOUR website!
.

Use the formula for the future value of the simple interest account

    future value = 200000*(1+0.035*8) = 200000*1.28 = 256000 Php.    ANSWER

Solved.

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To see many other similar  (and different)  solved problems on simple interest accounts,  look into the lesson
    - Simple interest percentage problems
in this site.

Learn the subject from there.



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