Quiz (simple interest and compound interest)

QUIZ NO. 1 I. Give the formula of the following: 1. Simple Interest ( I) 2. Final Amount ( FA) 3. Future Value (Simple Interest) 4. Present Value (Simple Interest) 5. Future Value (Compound Interest) II. Complete the table. F P R T I 6. ________ P 1 000 000 5% 6 months 7. _______ P 21 000 8. _________ 7% 1 year 9. _______ 10. _________ P 50 000 2.5 2 years 11. _______ III. Analyze and solve the following word problems using GUFSA. 12. Your parents placed a time deposit in Bank WXY for P 500 000 with an interest rate 3% compounded twice a year. How much will be the future value after 5 years? 13. You are ready to invest in a mutual fund of Bank HIJ with your funds amounting to P 1 000 000 at 8% annual simple interest rate. How much will be the future value after 5 years? 14. Compute for the future value of a salary loan worth P 35 000 at 8% for 3.5 years. 15. Your house was struck by a strong typhoon a year ago, and you don’t have enough funds for house repair. You applied for a calamity loan from your bank amounting to P 100 000 at 3% annual simple interest rate for 2 years. How much is your interest? “Mahulog na ako sa kanal, wag lang sa taong hindi ko mahal este, wag lang ang grade ko sa Math.” QUIZ NO. 1 I. Give the formula of the following: 1. Simple Interest ( I) 2. Final Amount ( FA) 3. Future Value (Simple Interest) 4. Present Value (Simple Interest) 5. Future Value (Compound Interest) II. Complete the table. F P R T I 6. ________ P 1 000 000 5% 6 months 7. _______ P 21 000 8. _________ 7% 1 year 9. _______ 10. _________ P 50 000 2.5 2 years 11. _______ III. Analyze and solve the following word problems using GUFSA. 12. Your parents placed a time deposit in Bank WXY for P 500 000 with an interest rate 3% compounded twice a year. How much will be the future value after 5 years? 13. You are ready to invest in a mutual fund of Bank HIJ with your funds amounting to P 1 000 000 at 8% annual simple interest rate. How much will be the future value after 5 years? 14. Compute for the future value of a salary loan worth P 35 000 at 8% for 3.5 years. 15. Your house was struck by a strong typhoon a year ago, and you don’t have enough funds for house repair. You applied for a calamity loan from your bank amounting to P 100 000 at 3% annual simple interest rate for 2 years. How much is your interest? “Mahulog na ako sa kanal, wag lang sa taong hindi ko mahal este, wag lang ang grade ko sa Math.”

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Transcript of Quiz (simple interest and compound interest)

Page 1: Quiz (simple interest and compound interest)

QUIZ NO. 1

I. Give the formula of the following:

1. Simple Interest (I) 2. Final Amount (FA) 3. Future Value (Simple Interest) 4. Present Value (Simple Interest) 5. Future Value (Compound Interest) II. Complete the table.

F P R T I

6. ________ P 1 000 000 5% 6 months 7. _______

P 21 000 8. _________ 7% 1 year 9. _______

10. _________ P 50 000 2.5 2 years 11. _______

III. Analyze and solve the following word problems using GUFSA.

12. Your parents placed a time deposit in Bank WXY for P 500 000 with an interest rate 3%

compounded twice a year. How much will be the future value after 5 years?

13. You are ready to invest in a mutual fund of Bank HIJ with your funds amounting to P 1

000 000 at 8% annual simple interest rate. How much will be the future value after 5

years?

14. Compute for the future value of a salary loan worth P 35 000 at 8% for 3.5 years.

15. Your house was struck by a strong typhoon a year ago, and you don’t have enough

funds for house repair. You applied for a calamity loan from your bank amounting to P

100 000 at 3% annual simple interest rate for 2 years. How much is your interest?

“Mahulog na ako sa kanal, wag lang sa taong hindi ko mahal este,

wag lang ang grade ko sa Math.”