Lesson 5 Quiz Reviewer (SY 24 - 25)

REFER TO THIS SITUATION: To buy a laptop, Raquel borrowed Php 50,000 at 9% interest for 4 years. After 4 years, aside from the original loan, she also had to pay Php 18,000.

WHAT IS THE VALUE OF THE INTEREST? Do not label your answer. Do not include the comma.

Convert 18 months to years. Do not label your answer.

If interest is Php 500 and the future value is Php 2,500, then how much is the principal? Do not label your answer. Do not include the comma.

A person deposits Php 5,000 in a bank account which pays 6% simple interest per year. Find the value of his deposit after 4 years. Do not label your answer. Do not include a comma.

Glen received $2,250 loan from the bank. After six months, he paid back  $2,295 and closed the loan. Find the simple rate of interest.

• 0.04%

• 4%

• 0.4%

• 40%

Ariel takes a loan of $8,000 at a rate of 9% simple Interest. Calculate the annual interest to be paid for the loan amount. Do not label your answer.

Seth invested a certain amount of money and got back an amount of Php 8400. If the bank paid an interest of Php 700, find the amount Seth invested. Do not label your answer. Do not include a comma.

Mrs. Lacson has Php 20,000 to invest. She wants to earn Php 10,000 in interest. She is considering a savings and loans bank that is offering her 5.6% simple interest per year. For how long will she have to leave her money in the bank in order to reach her goal of Php 10,000? Round off your answer to 2 d.p. Do not label your answer.

When Kevin bought a new office equipment, he borrowed Php 15,000 at a simple interest rate of 18% for 9 months. How much interest did he pay? Do not label your answer. Do not include the comma.

If interest is compounded monthly, then what is the value of n? Do not label your answer.