Find the ordinary interest and final amount on ₱15000 for 90 days at a.)5¼%

To find the ordinary interest and final amount on ₱15,000 for 90 days at an interest rate of 5¼% (or 5.25%), we'll use the following steps:

### Step 1: Calculate the Ordinary Interest

**Formula for Ordinary Interest (360-day year):**
\[
I_{\text{ordinary}} = P \times r \times \frac{t}{360}
\]

Where:
- \( P \) is the principal amount (₱15,000)
- \( r \) is the annual interest rate (5.25% or 0.0525)
- \( t \) is the time in days (90 days)

**Substitute the values:**
\[
I_{\text{ordinary}} = 15000 \times 0.0525 \times \frac{90}{360}
\]

\[
I_{\text{ordinary}} = 15000 \times 0.0525 \times 0.25
\]

\[
I_{\text{ordinary}} = 15000 \times 0.013125 = 196.875
\]

So, the ordinary interest is **₱196.88** (rounded to two decimal places).

### Step 2: Calculate the Final Amount

The final amount \( A \) is calculated by adding the interest to the principal:

\[
A = P + I_{\text{ordinary}}
\]

\[
A = 15000 + 196.88 = 15196.88
\]

### Final Answer:
- **Ordinary Interest:** ₱196.88
- **Final Amount:** ₱15,196.88

Would you like more details or have any questions?

### Related Questions:
1. How does the interest rate affect the final amount?
2. What would be the final amount if the time was 180 days instead of 90 days?
3. How does ordinary interest compare to exact interest in this scenario?
4. How would the interest change if the principal was ₱20,000 instead of ₱15,000?
5. What is the impact of using a different day count convention (like 365 days) on the interest calculation?

### Tip:
When dealing with fractional interest rates like 5¼%, convert it to a decimal (e.g., 5.25% = 0.0525) before using it in calculations.

Learn how to calculate the ordinary interest and final amount on ₱15,000 for 90 days at an interest rate of 5¼%. Understand the simple interest formula and how to apply it to find the final amount. Suitable for high school students and anyone interested in financial mathematics.

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