Answer:
Php 2593750.00
Step-by-step explanation:
The formula for the amount gotten from a compound interest is given as
A = P(1 + r/n)^nt
Where
A = Amount after t years
P = Initial amount saved or invested = PhP 2500000
R = 3.75
n = Compounding frequency = yearly = 1
t = Time in years = 1
First, convert R percent to r a decimal
r = R/100
r = 3.75%/100
r = 0.0375 per year,
Then, solve our equation for A
A = P(1 + r/n)^nt
A = 2500000.00(1 + 0.0375/1)^(1)(1)
A = Php 2593750.00
The amount Alisha has on her birthday is Php 2593750.00
The amount Alisha has on her birthday is Php 2593750.00
The formula for the amount gotten from a compound interest is given as
Where
Then, solve our equation for A
A = P(1 + r/n)^nt
A = 2500000.00(1 + 0.0375/1)^(1)(1)
A = Php 2593750.00
The amount Alisha has on her birthday is Php 2593750.00
Learn more on compound interest here: https://brainly.com/question/24924853
