Question 1

What unit must the time of a loan or investment always be expressed in?

Accepted Answer

years

Answer

days

Answer

months

Answer

weeks

Question 2

How is the maturity or future value (F) calculated?

Accepted Answer

sum

Answer

difference

Answer

product

Answer

quotient

Question 3

Which period is NOT considered a frequency of conversion in one year?

Accepted Answer

semi-monthly

Answer

semi-annually

Answer

quarterly

Answer

annually

Question 4

What is true about compound interest?

Accepted Answer

Interest is calculated on the principal amount and accumulated interest.

Answer

Interest is calculated at a variable rate that changes over time.

Answer

Interest is calculated only on the principal amount.

Answer

Interest is calculated at a fixed rate for the entire time period.

Question 5

Which of the following is a real-life application of compound interest?

Accepted Answer

All of the above

Answer

Savings account

Answer

Mortgage loan

Answer

Credit card debt

Question 6

What is the principal value in Problem 1 where Php 70,000 is borrowed?

Accepted Answer

Php 70,000

Answer

¾ year

Answer

10%

Answer

9 months

Question 7

In Problem 1, how is the time expressed in years from 9 months?

Accepted Answer

0.75 year

Answer

10%

Answer

9 months

Answer

Php 70,000

Question 8

What formula should you use to find the simple interest?

Accepted Answer

I=Prt

Answer

I=P(1+r*t)

Answer

I=F-P

Answer

I=I_s/r*t

Question 9

What must the time of a loan or investment always be expressed in?

Accepted Answer

years

Answer

months

Answer

weeks

Answer

days

Question 10

How is the maturity or future value (F) computed?

Accepted Answer

sum

Answer

difference

Answer

product

Answer

quotient

Question 11

Which of the following is NOT an example of a frequency of conversion period in one year?

Accepted Answer

semi-monthly

Answer

quarterly

Answer

semi-annually

Answer

annually

Question 12

Which is an example of a real-life application of compound interest?

Accepted Answer

All of the above

Answer

Mortgage loan

Answer

Credit card debt

Answer

Savings account

Question 13

In the context of a loan problem, what is the principal value?

Accepted Answer

Php 70,000

Answer

¾ year

Answer

10%

Answer

9 months

Question 14

What is the interest rate in the loan problem?

Accepted Answer

10%

Answer

¾ year

Answer

9 months

Answer

Php 70,000

Question 15

What is 10% in decimal form?

Accepted Answer

0.1

Answer

0.010

Answer

10.0

Answer

1.0

Question 16

What formula should you use to find the simple interest?

Accepted Answer

I=Prt

Answer

I=Isrt

Answer

I=P+I

Question 17

How much is the maturity value in the loan problem?

Accepted Answer

Php 75,250

Answer

Php 76,300

Answer

Php 70,000

Answer

Php 77,000

Question 18

What must the time of a loan or investment always be expressed in?

Accepted Answer

years

Answer

months

Answer

days

Answer

weeks

Question 19

How is the future value (F) calculated?

Accepted Answer

sum

Answer

quotient

Answer

difference

Answer

product

Question 20

Which of the following is NOT an example of a frequency of conversion period?

Accepted Answer

semi-monthly

Answer

annually

Answer

semi-annually

Answer

quarterly

Question 21

What is true about compound interest?

Accepted Answer

Interest is calculated on the principal amount and accumulated interest.

Answer

Interest is calculated at a fixed rate for the entire time period.

Answer

Interest is calculated only on the principal amount.

Answer

Interest is calculated at a variable rate that changes over time.

Question 22

What is the correct formula to calculate simple interest?

Accepted Answer

I=Prt

Answer

I=Isrt

Answer

I=P(1+rt)

Answer

I=P+I

Question 23

In the problem where Php 70,000 is borrowed at a 10% interest for 9 months, what is the principal value?

Accepted Answer

Php 70,000

Answer

¾ year

Answer

9 months

Answer

10%

Question 24

What is the interest rate in this same scenario?

Accepted Answer

10%

Answer

9 months

Answer

¾ years

Answer

Php 70,000

Question 25

What must the time of a loan or investment be expressed in?

Accepted Answer

years

Answer

days

Answer

months

Answer

weeks

Question 26

How is the maturity or future value (F) calculated?

Accepted Answer

sum

Answer

quotient

Answer

difference

Answer

product

Question 27

Which of the following is NOT an example of frequency of conversion periods in one year?

Accepted Answer

semi-monthly

Answer

quarterly

Answer

semi-annually

Answer

annually

Question 28

What is true about compound interest?

Accepted Answer

Interest is calculated on the principal amount and accumulated interest.

Answer

Interest is calculated only on the principal amount.

Answer

Interest is calculated at a variable rate.

Answer

Interest is fixed for the entire time.

Question 29

Which of the following is an example of compound interest in real life?

Accepted Answer

All of the above

Answer

Credit card debt

Answer

Mortgage loan

Answer

Savings account

Question 30

Based on Problem 1, what is the principal value of Php 70,000 borrowed?

Accepted Answer

Php 70,000

Answer

¾ year

Answer

9 months

Answer

10%

Question 31

In Problem 1, what is the interest rate?

Accepted Answer

10%

Answer

¾ years

Answer

9 months

Answer

Php 70,000

Question 32

What is the time in terms of years based on Problem 1?

Accepted Answer

0.75 year

Answer

10%

Answer

9 months

Answer

Php 70,000

Question 33

What is 10% in decimal form?

Accepted Answer

0.1

Answer

0.010

Answer

10.0

Answer

1.0

Question 34

What formula should be used to find simple interest?

Accepted Answer

I=Prt

Answer

I=Pr

Answer

I=Isrt

Answer

I=P(1+rt)

Question 35

The time of the loan or investment must always be expressed in ______.

Accepted Answer

years

Answer

days

Answer

weeks

Answer

months

Question 36

The maturity or future value (F) is computed by getting the _____ of the principal and the interest due.

Accepted Answer

sum

Answer

quotient

Answer

product

Answer

difference

Question 37

All of the given are examples of the frequency of conversion periods (m) in one year except?

Accepted Answer

semi-monthly

Answer

quarterly

Answer

semi-annually

Answer

annually

Question 38

Which of the following statements is TRUE about compound interest?

Accepted Answer

Interest is calculated on the principal amount and accumulated interest.

Answer

Interest is calculated at a variable rate that changes over time.

Answer

Interest is calculated only on the principal amount.

Answer

Interest is calculated at a fixed rate for the entire time period.

Question 39

Which of the following is an example of a real-life application of compound interest?

Accepted Answer

All of the above

Answer

Savings account

Answer

Mortgage loan

Answer

Credit card debt

Question 40

Based on problem 1, which of the following is the principal value?

Accepted Answer

Php 70,000

Answer

9 months

Answer

10%

Answer

¾ year

Question 41

In order to find the simple interest, what formula should you use?

Accepted Answer

I=Prt

Answer

I=P(1+rt)

Answer

I=Isrt

Answer

I=P+I

Question 42

Based on problem 2, how much will you have in your bank account after the deposit and interest is applied?

Accepted Answer

Php 53,083.89

Answer

Php 53,349.31

Answer

Php 94,282.46

Answer

Php 89,792.82

Question 43

Based on problem 5, what will the account balance be after 7 years with a deposit of ₱2,500 at an annual rate of 3%, compounded monthly?

Accepted Answer

Php 3,038.39

Answer

Php 1,083.39

Answer

Php 3,083.39

Answer

Php 2,083.39

Question 44

Based on problem 3, what is the principal value?

Accepted Answer

2250

Answer

5000

Answer

45p

Answer

2275

Question 45

. A principal amount of ₱800 is invested at a simple interest rate of 5% per year for 4 years. What is the interest earned?

Accepted Answer

160p

Answer

170

Answer

150

Answer

180

Question 46

John borrowed some money from the bank at a simple interest rate of 4% per year. After 5 years, he had to repay a total of ₱1,500. What was the principal amount he borrowed?

Accepted Answer

1250

Answer

1275

Answer

1200

Answer

150

Question 47

Alex invested an amount at a simple interest rate of 3.6% per year and earned ₱200 in interest after 4 months. What was the principal amount he invested?

Accepted Answer

. ₱16,666.67

Answer

p15000

Answer

P16100

Answer

P16000

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