Mrs. Mendoza deposited 10,000.00, in the bank.If the annual interest rate is 0.25%,how much interest will her deposit earn at the end of 5 years
Answer (1)
Answer:The interest earned can be calculated using the simple interest formula: Interest = Principal × Rate × Time Where: - Principal = 10,000.00- Rate = 0.25% = 0.0025 (expressed as a decimal)- Time = 5 years Interest = 10,000.00 × 0.0025 × 5 = 125.00 Therefore, Mrs. Mendoza's deposit will earn ₱125.00 in interest at the end of 5 years.
