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    Interest Quiz

    Uploaded by

    Oh Dee Pei

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Interest Quiz

    Uploaded by

    Oh Dee Pei
    6 views2 pages

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    interest quiz

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    Download as docx, pdf, or txt
    6 views2 pages

    Interest Quiz

    Uploaded by

    Oh Dee Pei

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    FOR YOUR SCRAPBOOK

    Due date: January 8, 2024

    Instructions: Answer the following problems completely and legibly. Show all necessary
    solutions.

    1. Ms. Minchin borrowed ₱340 000.00 from the bank. If Ms. Minchin agreed to pay an 11%
    annual interest rate, calculate the amount of interest she must pay if the loan period is 14
    months.

    2. If ₱85 000.00 is invested at 7.5% simple interest, how long will it take to grow to ₱104
    125.00?

    3. To your coming birthday, you get a summer job at the department store. Suppose you save ₱1
    350.00 of your salary and deposit it into an account that earns simple interest. After 10
    months, the balance is ₱1 835.00. What is the annual interest rate?

    4. Find the present value of ₱186 000.00 at 5.7% simple interest for 2.5 years.

    5. Compute the amount due if ₱155 455.00 was invested at 12% for 175 days using:
    a. ordinary interest
    b. exact interest

    6. Find the compound amount on deposit at the end of 4 years if ₱236 700.00 is deposited at
    5.8% compounded
    a. annually
    b. semi–annually
    c. quarterly

    7. What amount must be invested in order to have ₱345 777.00 after 9 years if money is worth
    6% compounded quarterly?

    8. Find the future value of ₱73 000.00 at 6.6% compounded semi–annually for 11 years.

    9. Find the present value of the ordinary annuity for the monthly payment of ₱5 500 for 5 years
    with interest rate of 13% compounded monthly.

    10. Find the future value of the ordinary annuity for the semi–annually payment of ₱6 300 for 7
    years with interest rate of 5% compounded semi–annually.
    11. Find the periodic payments of the ordinary annuity for the quarterly payment of the future
    value of ₱195 000 for 2 years with interest rate of 9% compounded quarterly.

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