Summative Test 1: Simple and compound interest
Flashcard
•
Mathematics
•
8th - 9th Grade
•
Practice Problem
•
Hard
Sheryl undefined
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20 questions
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1.
FLASHCARD QUESTION
Front
Find the present value of ₱12,850.00 due in 3 years if the interest rate is 6% compounded monthly.
Back
₱10,738.04.
2.
FLASHCARD QUESTION
Front
Jerry borrowed ₱4,000 for 5 years at 6% simple interest rate. How much interest is that?
Back
₱1,200
3.
FLASHCARD QUESTION
Front
Julie borrowed ₱3,500 for 3 years at 7½% simple interest rate. How much interest is that?
Back
₱787.50
4.
FLASHCARD QUESTION
Front
Ann puts ₱300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?
Back
₱12
5.
FLASHCARD QUESTION
Front
Emilio borrows ₱1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
Back
₱1392
6.
FLASHCARD QUESTION
Front
A bank offers 1.5% annual simple interest rate for a particular deposit. How much interest will be earned if 1 million pesos is deposited in this savings account for 1 year?
Back
₱15,000.00
7.
FLASHCARD QUESTION
Front
Present value of ₱150,000 due in 10 years at 10% compounded annually?
Back
₱57,831.49
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