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(52788) (Show Source):
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.
