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Siay, Zamboanga Sibugay

Name:_________________________________ Date:_______________

Year & Section:__________________________ Score:______________

Multiple Choice. Encircle the letter of your choice. Any form of erasure means wrong.

1. An amount becomes $3250 in 4 years and $16250 in 8 years on compound interest. Find the amount deposited.

A. 800 B. 650 C. 995 D. 525

2. Find the balance on a deposit of $3000, earning 4% interest compounded quarterly for 1 year.

A. $3246 B. $3500 C. $3122 D. $2828

3. Find the simple interest earned on $2800 deposited in a bank at 2% annual interest after 5 years.

A. $270 B. $280 C. $230 D. $305

A. $60 B. $90C. $30 D. None of the above

5. An amount of time in years the money is invested or the length of time between the origin and the maturity date.

A. Lender B. Interest C. Term D. Loan Date

6. The rate compounded annually that will give the same compound amount when the frequency of conversion is equal

to 1.

A. Effective rate B. Nominal rateC. Interest rate D. Principal

A. Principal B. Interest C. Maturity Value D. Interest rate

A. Principal B. Interest C. Maturity Value D. Interest rate

9. How long will an amount of money double at a simple interest rate of 2% per annum?

A.50 years B.5 years C. 20 years D.25 years

10. Angel deposited P20,000 in a bank that pays 0.5% simple interest. How much will be her money after 6 years?

A. P 20,600 B. P 21,600 C. P 19,800 D. P 20, 200

11. A person who invests the money or makes the funds available for a certain purpose or reason?

A. Principal B. Creditor C. Debtor D. Bank

12. Marissa deposited $900 in her savings account. The rate of simple interest is 5% per year. Find the balance at the

end of 4 years.

A. $720 B. $1080 C. $180 D. None of the above

13. A person or institution who owes the money or avails of the funds from the lender?

A. Principal B. Creditor C. Debtor D. Bank

A. Maturity date B. Deadline C. Time D. Loan date

A. Principal B. Future value C. Interest D. Loan amount

16. Find the interest if P50,000 is invested at 5% compounded annually for 8 years.

A. P23, 800 B. P23, 872.77C. P23, 873 D. P23,872

17. What is the present value of P50, 000 due in 7 years if money is worth 10% compounded annually?

A. P25, 650 B. P25, 657.91 C. P25, 656.91 D. P25, 657

18. An advertisement of a bank promises to double an investor's money in 5 years. What is the rate of simple interest

that an account should earn to double itself in 5 years?

A. 30% B.15% C. 25% D. 20%

19. The annual rate, usually in percent charged by the lender or rate of increase of the investment?

A. Principal B. Future value C. Rate D. Interest

20. An annual interest rate that can be compounded more than once a year?

A. Interest rate B. Nominal rate C. Effective rate D. Equivalent rate

A. Time B. Maturity value C. Loan date D. Maturity date

A. Interest B. Simple Interest C. Compound Interest D. Maturity date

23. An interest that is computed on the principal and then added to it?

A. Interest B. Simple Interest C. Compound Interest D. Maturity date

24. An interest that is computed on the principal and also on the accumulated past interests?

A. Interest B. Simple Interest C. Compound InterestD. Maturity date

25. What effective rate is equivalent to 12% compounded monthly while the equivalent rate is compounded semi-

annually?

A. 12.304% B. 11.052% C. 14.012% D. 13.561%

26. How long will it take for a sum of money to grow from P1, 250 to P10,000, if it is invested at 12.5% p.a simple

interest?

A. 8 years B. 64 years C. 72 years D. 56 years

27. Emily's mother deposits $3000 in a savings account towards her college education. She gets a compound interest of 14%

x

annually. The balance in the account is represented by the function rule f(x) = 3000 (1.14) , where x is the time in years. Find the

amount in the savings account after 7 years.

A. $7500 B. $7551 C. $7465 D. $7535

28. What will P1500 amount to in three years if it is invested in 20% p.a. compound interest, interest being compounded

annually?

A. 2400 B. 2678 C. 2592 D. 2540

29. Two annual rates with different conversion periods that will earn the same compound at the end of a given number

of years?

A. Interest rate B. Nominal rate C. Effective rate D. Equivalent rates

A. Compounding more than once a year B. Continuous compounding

C. Continuous interest D. Compound interest

compound

31. When the total number of conversion periods is 12 and the term is 6 years, then the money is compounded ______?

A. Semi-annually B. Quarterly C. Annually D. Daily

32. How long will it take P3,000 to accumulate to P3,500 in a bank savings account at 0.25% compounded monthly?

A. 67.61 years B. 67.67 years C. 67 yearsD. 61.67 years

33. At what interest rate compounded quarterly will money double itself in 10 years?

A. 7.0% B. .070 % C. 70% D. 7.1%

34. Suppose you invested P20, 000 at 3% compounded continuously. How much will you have from this investment after

6 years?

A. P22, 944.35 B. P23, 944.35C. P23, 934.35 D. P23, 943.35

35. Peter is planning to invest P100, 000. Bank A is offering 5% compounded semi-annually while Bank B is offering 4.5%

compounded monthly. If he plans to invest this amount for 5 years, in which bank should he invest?

A. Bank A B. Bank B C. Both bank A & B D. None of the above

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