Gen Math Long Test (2nd Quarter)

1. Aling Nene takes out a simple interest loan of Php10,000 at a rate of 7.5%. What is the total amount Aling Nene will repay if the loan is for 8 years?

2. Simple interest earned is represented by the formula, I = Prt . If a 2-year loan of of Php 5000 is made with 4% simple interest. Find the interest earned.

3. Richie invested Php12,000 at a simple interest rate of 6% for 4 months at United Villages Cooperative. How much interest is earned on this investment?

4. Amount paid or earned for the use of money

5. Simple interest remains constant throughout the investment term

6. In compound interest , the interest from the accumulated past interest also earns interest

7. If money loaned or invested is compounded quarterly the frequency of compounding is

8. Using the formula F =P(1+r/m)^mt, how much does Kristal repay after 2 years if she borrows Php10,000 and promises to pay the principal and interest at 12% compounded monthly?

9. Frequency of conversion or compounding is the_________________________

10. If the frequency of compounding is two(2), the amount borrowed or invested was said to be compounded_________.

11. If the interest rate is 12% compounded monthly , what is the nominal or annual rate of interest?

12. A sequence of payments made at equal intervals or periods time.

13. An annuity where the length of the payment interval is not the same as the length of the interest compounding period.

14. In the concept of annuity or finance the term discounting means getting the ___________

15. The down payment (if there is any) plus the present value of the installment payments