ST.

ANTHONY MONTESSORI

Final Examination in Business Math

Prepared by: Zymon Andrew M. Maquinto
13 December 2020
ST. ANTHONY MONTESSORI

FINAL EXAMINATION IN BUSINESS MATHEMATICS

General Instructions
Read and analyze each word problem carefully. Put your answers in Business Math Answer Sheets.
Place solutions in one box per item. Scan and submit your Answer Sheet in Google Classroom.

Part 1: Simple Interest

Solve for the unknown in the matrix below using the basic formula I = Prt

Interest (I) Principal (P) Rate (r) Time (t)

? ₱ 1,000 10% 10 years

? ₱ 90,500 0.025 2 years and 3 months

₱ 570 ₱ 16,600 ? 5.2 years

₱ 100 ? 3.5% 60 months

₱ 700 ₱ 2,700 23% ?

Total 25 pts

Part 2: Ordinary and Exact Interest

Identify the actual and approximate time running from January 12, 2020 until August 19, 2020.
Compute for the:
a. Actual Time, Ordinary Interest
b. Actual Time, Exact Interest
c. Approximate Time, Ordinary Interest
d. Approximate Time, Exact Interest

• Note: Ordinary Interest considers 360 days in a year and Exact Interest considers it as having
365 days in a year.

Total 30pts
ST. ANTHONY MONTESSORI

FINAL EXAMINATION IN BUSINESS MATHEMATICS

Part 3: Compound Interest

Solve for the following using the formula:

F = P(1+i)n where i=r/n n=t(m)

Compounded: m

Monthly 12

BI-monthly 6

Quarterly 4

Semi-Annually 2

A. How much is the future value of a loan which was availed at 5% interest, compounded
every quarter for 2 and a half years?

B. Today, Jian was born and her father put in a bank a trust fund for her in the amount of
P300,000. It will mature on the debut of Jian as a birthday gift by her father. If the trust
fund earns interest semi-annually for 3%. How much will be the total amount of the gift
of her father when she becomes a lady?

C. Accumulate P70,000 bi-monthly for 70 years at 7% compound interest.

Total 15pts

END OF EXAM
-NOTHING FOLLOWS-