General Mathematics - Grade 11 Finals

The amount that is earned or the amount that is to be paid for the use of one's money is referred to as:

• interest

• maturity value

• rate

• time

In computing the simple interest, the formula is I = Prt, where P is the:

• point of reference in computing the start of payment of interest

• payment made

• principal amount

• principal plus the interest

This situation, "Find the compounded amount of ₱2,000 for 5 years at 6% interest." is an example of computing the:

• simple interest

• compound interest

• maturity value

• future value

Given the simple interest formula, I=Prt and compound interest formula, F=P(1+rn)nt, one is true about the rate (r).

• (r) is the rate of interest

• (r) can be the number of terms annually

• (r), when compounded may be doubled or tripled in the computation of interest

• (r) is the basis of computing the period of time

Suppose that you invest ₱ 1,000 at 5% simple interest. How much money will you have after 10 years? Given that I = ₱ 500.

• ₱500

• ₱1, 500

• ₱2, 000

• ₱2, 500

Find the compounded amount of ₱ 4, 000 for 3 years at 7% if (1+ rn)nt = 1.225043

• ₱4, 900.172

• ₱7, 350.258

• ₱9, 800.344

• ₱14, 700.516

Find the total amount in the account three years after the first deposit. Assume that after 8 months, the total amount in the account is ₱2050.

• ₱5, 291.88

• ₱5, 491.88

• ₱5, 581.88

• ₱5, 681.88

What is the duration/period (t) after 8 months?

• 212 year

• 412 year

• 612 year

• 812 year

After covering the first 8 months, in finding the maturity value for the rest of the remaining period, we let t =______ ?

• 28 months

• 29 months

• 30 months

• 31 months

What is the rate of the simple interest problem above?

• 3.75

• 0.375

• 0.0375

• 0.00375