How much money should you invest for 250 days at 4.5% to earn P64.73?

To determine how much money you need to invest to earn PHP 64.73 in 250 days at an interest rate of 4.5%, you can use the formula for simple interest:

\[
I = P \times r \times t
\]

Where:
- \( I \) is the interest earned (PHP 64.73),
- \( P \) is the principal amount (the initial investment),
- \( r \) is the annual interest rate (4.5%, or 0.045 as a decimal),
- \( t \) is the time in years.

First, convert the time from days to years. Since there are 365 days in a year:

\[
t = \frac{250}{365}
\]

Next, solve for \( P \):

\[
P = \frac{I}{r \times t}
\]

Substituting the values:

\[
P = \frac{64.73}{0.045 \times \frac{250}{365}}
\]

Let's calculate that.You should invest approximately **PHP 2,100.13** to earn PHP 64.73 in 250 days at an interest rate of 4.5%.

Do you want more details or have any questions?

Here are five related questions:
1. How would the required investment change if the interest rate was 5%?
2. What would the interest earned be if you invested PHP 3,000 instead?
3. How much would you need to invest to earn PHP 100 in 200 days at the same interest rate?
4. How does compound interest differ from simple interest in this scenario?
5. What is the formula to calculate compound interest over multiple periods?

**Tip:** Always check if the interest rate is annual when solving interest problems, especially for periods less than a year.

Learn how to calculate the required investment to earn PHP 64.73 in 250 days at a 4.5% interest rate using the simple interest formula. This problem involves converting days to years, applying the interest rate, and determining the principal amount. Suitable for high school students learning about simple interest calculations.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation