"Find the present value..." suggests that the ₱1,500 is the FUTURE VALUE after 3 years at 4% interest, and you are to find the PRESENT value that will produce that future value.
But "after 3 years at 4% interest" suggests that ₱1,500 is the PRESENT value, and you are supposed to find the FUTURE value.
The interest rate is 4% = 0.04; the annual growth factor is 1+0.04 = 1.04. The growth factor for 3 years at 4% interest is (1.04)^3.
(1) If the ₱1,500 is the initial amount and you want to find the FUTURE value, then
(2) If the ₱1,500 is the FUTURE value and you want to find the PRESENT value, then
