MYSTICAL ROSE SCHOOL OF CALOOCAN INC.

# 15 Ilang-Ilang St., Almar Subdivision Camarin Caloocan City

OUTPUT #4

Name: _______________________________Date:____________________
Strand/Section:________________________Score:____________________
Teacher:______________________________Parent’s Signature:_________

Solve the following problems:

1. If you invest P3,500 in savings account that pays 4% simple interest, how much interest will
you earn after 3 years?
2. Joseph buys a new home using an interest only loan where he pays only the interest on the
value of the home each month. The home is valued at P200,000 and Joesph pays 5% interest
per year on the home. How much is his monthly interest payment?
3. Anthony puts P10000 dollars into a savings account that pays interest every month at a rate of
1.8% per year. How much money does Anthony have after one month?
4. If you deposit P5,000 in an account paying 5% interest, how much money will you receive in 8
years if the account is

a) compounded annually
b) compounded semiannually
c) compounded quarterly
d) compounded monthly
e) compounded daily