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Oh! My money will not grow in your offer. Sorry, I would decline it.
Hello Ma,am! Im Ms. Clara from Bank Y. Im offering you with COMPOUND INTEREST at a rate of 8% for 8 years.
So basically the compound interest or the future value is adding the simple interest to the principal/capital money.
A=P(1+rt) A=500,000php[1+(0.08)(8)] A=4,000,000.64php
COMPOUND INTEREST Formula A=P(1+rt) A=? P=500,000php r=0.08(8%) t=8years(8)
Hmm, your offer is good. Im going to accept it.
I accepted the offer of Bank Y because my money would grow in it. That's all, thankyou.
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