Luke invested his money in the stock market worth ₱500,000 and earns about 5% yearly.
Question
Luke invested his money in the stock market worth ₱500,000 and earns about 5% yearly.
Solution
Sure, but you haven't asked a question yet. Are you asking how much Luke will earn in a year? If so, here's the answer:
To calculate how much Luke will earn in a year, you need to multiply his investment by the yearly interest rate.
Step 1: Convert the interest rate from a percentage to a decimal. 5% becomes 0.05.
Step 2: Multiply the investment by the interest rate. ₱500,000 * 0.05 = ₱25,000.
So, Luke will earn ₱25,000 from his investment in a year.
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