* Iron (Fe) can have multiple oxidation states (+2 and +3).
* Phosphate (PO₄) has a -3 charge.
To balance the charges, we need to use the correct oxidation state of iron. The most common and stable form of iron phosphate is ferrous phosphate, where iron has a +2 charge.
Therefore, the correct chemical formula for ferrous phosphate is Fe₃(PO₄)₂.