# Simple Interest part III

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• Bank simple interest is 8%, Jack deposits  ₱10000 without withdrawal for 3 years﻿
• Let me explain how I solved this﻿
• = ₱ 2400 ﻿
• =(10000)(0.08)(3)
• Simple Interest
• Bank simple interest is 8%, Jack deposits  ₱10000 without withdrawal for 3 years﻿
• = ₱ 2400 ﻿
• =(10000)(0.08)(3)
• P=is 10000 R=is the 8% or 0.08 T=3
• Simple Interest
• Then you multiply the following.
• Ah... So that's how you do it
• Bank simple interest is 8%, Jack deposits  ₱10000 without withdrawal for 3 years﻿
• = ₱ 2400 ﻿
• =(10000)(0.08)(3)
• And this is how you get the accumulated value
• Simple Interest
• Determine the future value of an investment of ₱2000 for 3 years at 8% simple interest
• = 480
• prt=2000(3)(0.08)
• I+prt=2000+480
• =2480
• Simple Interest
• Determine the future value of an investment of ₱2000 for 3 years at 8% simple interest
• = 480
• prt=2000(3)(0.08)
• Then you get the sum of prt and I
• =2480
• I+prt=2000+480
• First you get the product of prt
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