# Mrs. Santos invested P 15 000 in the money market for 2 years. The yearly rate of interest was 12%. How much did the money earn in 2 years?

2
by terpequreen483

2015-05-14T20:21:11+08:00

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The interest is computed as:

Therefore the interest is P3600
2015-05-16T13:42:22+08:00

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To get the money she earned through interests,
P 15000 x 0.12=P 1800
That is the first year, since we need 2 years multiply P 1800 by 2
P 1800 x 2=P 3600

Hope this helps =)