1. Which interest is computed on the principal and then added to it? a simple b. compound c. annuity due d. ordinary annuity 2. The simple interest formula is I = Prt. What does the t represent? a principle b. time c. Interest d. percent rate 3. Rate of interest must be converted into before substituting to the formula of finding the interest. a fractions b. decimals c. mixed numbers d. percentage 4. If the investment amounting to P45,000 eamed an interest of P3,500 how much will be the maturity value? a. P41,500 b. P48,500 c. P40,000 d. P25,000 5. Given that P = P15,250. r = 3.25% and t= 3 years, find the simple interest. a P24,868.80 b. P14,868.80 a P1,486.88 d. P148.69 For numbers 6-8, use the situation below. Jenny invested money from Rural Bank at 1.05% simple interest for 3 years. It was charged P 472.50 for intere 6. What formula will be used to determine the amount of borrowed money? a. Is-Prt b. P=Islrt C. Ic=F(1+/ d. P=F(1+r) 7. How much money will Jenny invest? ap 1,500.00 b. P 15,000.00 c. P 150,000.00 d. P 600,000.00 8. How much is her accumulated money after 3 years? a P 1.947.50.00 b. P 15,472.50.00 c. P 150,472.50.00 d. P 600.472.50.00 9. Which of the following refers to the fixed sum of money paid to someone at regular intervals and subject to a compound interest? a. annuity b. simple interest C. compound interest d. annuity certain 10. If the interest conversion or compounding period is equal or the same with the payment interval, what type annuity is illustrated? a annuity certain b. annuity uncertain c. simple annuity d. general annuity 11. What is another term for stock? a bond b. debenture c. debt instrument d. equity instrument
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1.b
2.d
3. a
4.b
5.b
6.c
7.c
8.d
9a.
10.b
11.a
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