SECOND QUARTER EXAM - Attempt Review

1/20/24, 5:25 PM SECOND QUARTER EXAM: Attempt review
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Started on Tuesday, 9 January 2024, 7:27 PM

State Finished
Completed on Tuesday, 9 January 2024, 8:04 PM
Time taken 36 mins 50 secs
Marks 42.00/50.00
Grade 84.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
How long will Ᵽ40,000 amount to Ᵽ51,200 if the simple interest rate is at 12% per annum?
None of the choices
23.3 years
233 years
2.33 years
Your answer is correct.
Question 2
Correct
It is where the payment is not the same as the interest compounding period.
Compound interest
General annuity
Simple interest
Simple annuity
shsexam.amaes.com/2312/mod/quiz/review.php?attempt=134701&cmid=596&showall=1 1/18
Question 3
Correct
When invested at an annual interest rate of 10.5%, an amount earned Ᵽ157,500 of simple interest in five years. How much money was
originally invested?
Ᵽ30,000.00
Ᵽ300.00
Ᵽ300,000.00
Ᵽ3,000.00
Question 4
Correct
At what simple interest rate per annum will Ᵽ360,000 accumulate to Ᵽ363,600 in 2 years?
0.5%
5%
0.05%
50%
Question 5
Correct
Luisa invested a certain amount at 8% simple interest rate per year. After 6 years, the interest she received amounted to Ᵽ48,000. How
much did she invest?
Ᵽ130,000.00
Ᵽ100,000.00
Ᵽ120,000.00
Ᵽ110,000.00
Question 6
Correct
When the total number of conversion periods is 12 and the term is 6 years, then money is compounded ____________.
Monthly
Semi-annually 
Quarterly
Annually
Question 7
Correct
0.095%
9.5%
9.05%
0.95%
Question 8
Correct
At what simple interest rate will an amount of money double itself in 10 years?
40%
10%
20%
30%
Question 9
Correct
It is the money that you earn after a certain period of your money being in a bank for safekeeping.
Principal
Future Value
Interest
Present Value
Question 10
Correct
It is the percentage of increase of investment.
Interest
Maturity Value
Principal
Rate
Question 11
Correct
It is a fraction or a percentage being computed to a sum of money.
Principal
Future value
Interest
Present value
Question 12
Incorrect
How long will Ᵽ157,500 amount to Ᵽ457,000 if the simple interest rate is at 10.5% per annum?
6 years
5 years
7 years 
8 years
Your answer is incorrect.
Question 13
Incorrect
Accumulate Ᵽ15,000 for 2 years at 15% compounded monthly.
Ᵽ25,000.90
Ᵽ16,113.99
Ᵽ20,210.27
Ᵽ18,105.74 
Question 14
Correct
The person or institution who has money to invest or make available to people who needs to borrow.
Debtor
Lender
Borrower
None of the choices
Question 15
Correct
If an entrepreneur applies for a loan amounting to Ᵽ500,000 in a bank, the simple interest of which is Ᵽ157,500 for 3 years, what
interest rate is being charged?
0.105%
10.5%
105%
1.05%
Question 16
Correct
How much must be deposited by a 15-year old student in a bank that pays 1% compounded annually so that after 10 years he will
save Ᵽ20,000?
Ᵽ19,327.00
Ᵽ18,105.74
Ᵽ15,000.90
Ᵽ16,113.99
Question 17
Correct
When the total number of conversion periods is 24 and the term is 6 years, then money is compounded ____________.
Quarterly
Semi-annually
Annually
Monthly
Question 18
Correct
How long will an amount of money double at a simple interest rate of 2% per annum?
40 years
60 years
50 years
70 years
Question 19
Correct
In order to have Ᵽ110,000 in 5 years, how much should you invest if the simple interest is 2%?
Ᵽ100,000.00
Ᵽ70,000.00
Ᵽ80,000.00
Ᵽ90,000.00
Question 20
Incorrect
What is the present value of Ᵽ50,000 due in 7 years if money is worth 10% compounded annually?
Ᵽ26,557.91 
Ᵽ25,657.91
Ᵽ27,656.91
Ᵽ28,567.91
Question 21
Correct
It is the amount to be paid to the lender at the end of the term.
Maturity Value
Rate
Interest
Principal
Question 22
Correct
It is the date on which the money borrowed is to be completely repaid.
Loan date
Maturity date
None of the above
Origin date
Question 23
Correct
Find the amounts of interest and maturity value of a loan for Ᵽ20,000 at 6% compound interest for 3 years?
Ᵽ24,028.12 ; Ᵽ4,028.12
Ᵽ23,820.32 ; Ᵽ3,820.32
Ᵽ32,587.57 ; Ᵽ12,587.57
Ᵽ46,535.20 ; Ᵽ26,535.20
Question 24
Correct
How much money should Joanne invest to obtain an amount of Ᵽ30,000 in 4 years if money earns at 8% compounded annually?
Ᵽ25,457.23
Ᵽ23,233.69
Ᵽ20,517.01
Ᵽ22,050.90
Question 25
Correct
How long will Ᵽ175,500 amount to Ᵽ500,000 if the simple interest rate is at 10.5% per annum?
3.35 years
3.33 years
3.34 years
3.32 years
Question 26
Correct
How long will a principal earn an interest equal to half of it at 5% simple interest?
6 years
3 years
9 years
10 years
Question 27
Incorrect
A savings account in a bank yields 0.25% compound interest annually. Find the future value of Ᵽ25,000 for 4 years in this savings
account. How much interest will be gained?
Ᵽ26,555.60 ; Ᵽ1,555.60 
Ᵽ25,250.94; Ᵽ250.94
Ᵽ28,028.12 ; Ᵽ3,028.12
Ᵽ27,540.72 ; Ᵽ2,540.72
Question 28
Correct
It refers to an investment agreement between a depositor and a financial institution that promises to pay out a steady amount of
money over a term.
Bonds
Interest
Annuity
Stocks
Question 29
Correct
When invested at an annual interest rate of 7%, an amount earned Ᵽ11,200 of simple interest in two years. How much money was
Ᵽ800,000.00
Ᵽ800.00
Ᵽ8,000.00
Ᵽ80,000.00
Question 30
Correct
It is the original amount of money borrowed or invested.
Rate
Principal
Interest
Future Value
Question 31
Correct
How long will Ᵽ250,000 earn an interest of Ᵽ275 at 0.5% simple interest?
0.22 years
2.2 years
2 years
22 years
Question 32
Correct
How much should Anne set aside and invest in a fund earning 2% compounded quarterly if she needs Ᵽ75,000 in 1 year and 3
months?
Ᵽ70,990.90
Ᵽ73,152.80
Ᵽ71,095.44
Ᵽ70,000.00
Question 33
Incorrect
It is the interest that is computed on the principal then added to it.
General annuity
Simple annuity
Simple interest
Compound interest 
Question 34
Correct
How much money should Klara place in a time deposit in a bank that pays 1.1% compounded annually so that she will have Ᵽ200,000
after 6 years?
Ᵽ187,293.65
Ᵽ113,567.71
Ᵽ157,657.53
Ᵽ164,342.82
Question 35
Correct
It is the interest rate that determines the amount of money will earn
Term
Principal
Rate
Future value
Question 36
Correct
It is the amount of time, in years, that the money is borrowed or invested.
Rate
Principal
Future value
Term
Question 37
Correct
In order to have Ᵽ200,000 in 3 years, how much should you invest if the simple interest is 5.5%?
Ᵽ117,673.82
Ᵽ171,673.83
Ᵽ171,673.82
Ᵽ117,673.83
Question 38
Correct
It is the amount paid or earned for the use of money.
Interest
Principal
Rate
Maturity Value
Question 39
Correct
It is the interest computed on the principal and also on the accumulated past interests.
General annuity
Compound interest
Simple annuity
Simple interest
Question 40
Correct
When money is compounded monthly, the frequency of conversion is _________.
12
365
Question 41
Incorrect
A businessman invested Ᵽ100,000 in a fund that pays 10.5% compounded annually for 5 years. How much was in the fund at the end
of the term?
Ᵽ180,115.94
Ᵽ155,960.00
Ᵽ193,547.05 
Ᵽ164,744.68
Question 42
Correct
If an entrepreneur applies for a loan amounting to Ᵽ36,000 in a bank, the simple interest of which is 4,860 for 1.5 years, what interest
rate is being charged?
0.9%
90%
9%
0.09%
Question 43
Correct
Maricris deposited Ᵽ880,000 in a bank that pays 9.25% simple interest. How much will be her money after 2.5 years?
Ᵽ1,830,500.00
Ᵽ1,083,500.00
Ᵽ1,083,600.00
Ᵽ1,803,500.00
Question 44
Incorrect
It is where compounding and payment period happen at the same time.
Simple interest
Simple annuity
Compound interest 
General annuity
Question 45
Correct
64%
0.64%
6%
6.4%
Question 46
Correct
When invested at an annual interest rate of 2.5%, an amount earned Ᵽ1,500 of simple interest in four years. How much money was
Ᵽ1,500.00
Ᵽ15,000.00
Ᵽ15,010.00
Ᵽ150,000.00
Question 47
Correct
It is the value of the debt or investment at present day.
Interest
Maturity Value
Principal
Rate
Question 48
Correct
Angel deposited Ᵽ20,000 in a bank that pays 0.5% simple interest. How much will be her money after 6 years?
Ᵽ20,500.00
Ᵽ20,800.00
Ᵽ20,700.00
Ᵽ20,600.00
Question 49
Incorrect
Kenneth borrowed Ᵽ5,000 at 5% annual simple interest rate. If he decided to pay after 1 year and 3 months, how much should he pay
by then?
Ᵽ5,132.50
Ᵽ5,231.50 
Ᵽ5,312.50
Ᵽ5,213.50
Question 50
Correct
If Jenny borrowed Ᵽ88,800 at an annual simple interest rate of 10.25% for one and a half year, how much interest should he pay?
Ᵽ16,353.00
Ᵽ13,653.00
Ᵽ15,363.00
Ᵽ16,353.00
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1/20/24, 5:25 PM SECOND QUARTER EXAM: Attempt review

Home / My courses / BAED-GMAT2111-2312S / SECOND QUARTER EXAMINATION / SECOND QUARTER EXAM

Started on Tuesday, 9 January 2024, 7:27 PM

Mark 1.00 out of 1.00

None of the choices

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

It is the percentage of increase of investment.

Your answer is correct.

Mark 1.00 out of 1.00

It is a fraction or a percentage being computed to a sum of money.

Your answer is correct.

Mark 0.00 out of 1.00

Your answer is incorrect.

Mark 0.00 out of 1.00

Accumulate Ᵽ15,000 for 2 years at 15% compounded monthly.

Your answer is incorrect.

Mark 1.00 out of 1.00

None of the choices

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 0.00 out of 1.00

Your answer is incorrect.

Mark 1.00 out of 1.00

It is the amount to be paid to the lender at the end of the term.

Your answer is correct.

Mark 1.00 out of 1.00

It is the date on which the money borrowed is to be completely repaid.

None of the above

Your answer is correct.

Mark 1.00 out of 1.00

Your answer is correct.

Mark 1.00 out of 1.00