Ms. Dorothy deposited ₱40,000 in a bank new plan paying 7.2% simple interest per annum if withdrawn after 5 years, otherwise the plan will not apply. How much interest will she gain after maturity of the plan

Respuesta :

Answer:

14,400.00

You're going to take 40,000 multiplied by 7.2 which gives you the interest for one year. Multiply that by 5 to get through interest for 5 years.