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Popular Word Problems >

What is the present value of ₱ 70,000 at 8% simple interest for 5 years?

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Solution

Whatisthepresentvalueof₱70,000at8%simpleinterestfor5years?

Solution

Amount:98000
Solution steps
Translate the problem into an equation:A=70000(1+0.08⋅5)
70000(1+0.08⋅5)=98000
Amount:98000

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