# If you deposit p5,500 in a bank at an annual simple interest rate of 0.5 % how much money will you have after 12 years

Answers: 1

## Answers

If you deposit p5,500 in a bank at an annual simple interest rate of 0.5 % how much money will you h...

Explanation:

In order to know how much money will I have after 12 years, we'll need to use the formula:

F = P (1 + rt)

where:

F - future or maturity valueP - principal amountr - interest ratet - timeLet's solve!

#answerForTrees

answer:

if the interest is by month the total money will be P396,000

Step-by-step explanation:

and if it is by year it will be P33,000