Review for 2nd Quarter

Front

What is the formula for calculating simple interest?

Back

Is= Prt

Front

If a principal of ₱1 000 is invested at a simple interest rate of 5% per year, how much interest will it earn in 3 years?

Back

₱150

Front

Which of the following statements is true about simple interest?

Back

It is based only on the original principal amount.

Front

If ₱500 is invested at 8% compounded annually for 2 years, what is the final amount? (Use the compound interest rate formula: A= P(1+r100)t)

Back

₱583.20

Front

What is the main difference between simple interest and compound interest?

Back

Simple interest is calculated only on the principal, while compound interest is calculated on both the principal and previous earned interest.

Front

At what rate of simple interest will a sum of ₱1200 double itself in 10 years?

Back

10%

Front

If a principal of ₱2,000 is compounded quarterly at an interest rate of 4% per annum, what will be the amount after 1 year? (Use A= P(1+rn)nt with n=4)

Back

₱2,082.43

Front

Which interest type typically results in a larger amount over the same period, given the same principal and interest rate?

Back

Compound Interest

Front

A principal of ₱3,000 grows to ₱3,456 in 2 years at compound interest. What is the approximate annual interest rate?

Back

6%

Front

If the compound interest rate for a certain amount at 10% per annum for 2 years is ₱210, what is the principal?

Back

₱1,200