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4. Your sister deposited P 400.00 into savings account. How much interest will she receive at the end of one year if the interest rate is 3%? 5. Your cousin deposited P 1,200.00 in a certificate of deposit (CD) at an interest rate of 5-5%. He earned P 198.00 in simple interest. How long was the CD for?

4. Your sister deposited P 400.00 into savings account. How much interest will she receive at the end of one year if the interest rate is 3%? 5. Your cousin deposited P 1,200.00 in a certificate of deposit (CD) at an interest rate of 5-5%. He earned P 198.00 in simple interest. How long was the CD for?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Identify if the problem involves simple interest or compound interest. Then, solve the problem.show your neat and complete solution.
4. Your sister deposited P 400.00 into savings account. How much interest will she receive at the end of one year if the interest rate is 3%? 5. Your cousin deposited P 1,200.00 in a certificate of deposit (CD) at an interest rate of 5-5%. He earned P 198.00 in simple interest. How long was the CD for?
Transcribed Image Text:4. Your sister deposited P 400.00 into savings account. How much interest will she receive at the end of one year if the interest rate is 3%? 5. Your cousin deposited P 1,200.00 in a certificate of deposit (CD) at an interest rate of 5-5%. He earned P 198.00 in simple interest. How long was the CD for?
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