Direction: Compute the compounding interest for the TIME DEPOSIT.

How much would you earn in one year if the interest were compounded monthly?

Given data,
Principal amount = 50,000.00
Interest rate per month = 1%
Term = 6 months (182 days for 6 months, 365 days in a year)

Show your solution:
Formula : interest = principal x rate x time (I= Prt)​​