Susana has Php 300,00 and want to barrow PhP 500,00 from the bank to buy an 800,000-peso car but instead of letting their daughter borrow money from the bank, Susana's parents gave her a additional Php 300,000 and Susana decides to place all hee fund into a time deposit account. If she is willing to wait for 3 years,bat what interest are should she be investing his money, at what compounding interest, in order to raise PhP 800,000?
Answer: if she wait for 3 years , the interest rate she should be investing her money is approximately_______________.
