Alishas parents deposited in her bank account PhP 25 O00 00 at an interest at 3.75% compounded yearly on her first birthday and did not withdraw any amount from the account how much money alisha has on her birthday

The amount Alisha has on her birthday is Php 2593750.00

The formula for the amount gotten from a compound interest is given as

Where

Then, solve our equation for A  

A = P(1 + r/n)^nt

A = 2500000.00(1 + 0.0375/1)^(1)(1)  

A = Php 2593750.00

The amount Alisha has on her birthday is Php 2593750.00

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Php 2593750.00

Step-by-step explanation:

The formula for the amount gotten from a compound interest is given as

A = P(1 + r/n)^nt

Where

A = Amount after t years

P = Initial amount saved or invested = PhP 2500000

R = 3.75

n = Compounding frequency = yearly = 1

t = Time in years = 1

First, convert R percent to r a decimal

r = R/100

r = 3.75%/100

r = 0.0375 per year,

Then, solve our equation for A

A = P(1 + r/n)^nt

A = 2500000.00(1 + 0.0375/1)^(1)(1)

A = Php 2593750.00

The amount Alisha has on her birthday is Php 2593750.00