Every 3 months, a man deposits in his bank account a savings of Php 5,000. In how many years would he have saved Php 250,000?
5000/3 * n = 250,000.
Multiply both sides by 3:
5000n = 750,000.
n = 150 Months. = 12.5 years.
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To find out how many years it would take for him to save Php 250,000, we can divide the total amount by the amount he saves every 3 months.
Total amount to be saved: Php 250,000
Amount saved every 3 months: Php 5,000
Number of times he saves in a year: 12 (since there are 12 months in a year and he saves every 3 months)
Total number of years to save Php 250,000:
Years = Total amount to be saved / Amount saved every 3 months
Years = Php 250,000 / Php 5,000
Years = 50
Therefore, it would take him 50 years to save Php 250,000.
To find the number of years it would take the man to save Php 250,000, we can divide the total amount by the amount deposited every 3 months.
Step 1: Calculate the number of deposits per year.
Since he deposits every 3 months, there are 12 months in a year, and he makes a deposit every 3 months.
Number of deposits per year = 12 months / 3 months = 4 deposits per year.
Step 2: Calculate the amount saved per year.
Since he deposits Php 5,000 every 3 months, the amount saved per year is 4 times the deposit amount.
Amount saved per year = Php 5,000 * 4 = Php 20,000.
Step 3: Calculate the number of years needed to save Php 250,000.
To find the number of years required to save Php 250,000, divide the total amount by the amount saved per year.
Number of years = Php 250,000 / Php 20,000 = 12.5 years.
Therefore, it would take the man approximately 12.5 years to save Php 250,000.