Jen rose Fahimno

BE1101

05 Activity 1
1. How much interest will be charged on Php.7,300 borrowed for three (3) years at a simple
interest rate of 12% per annum?
I =Prt
I =7,300(0.12)(3)
I =7,300 ( 0.36 )
I =Php .2,628.00
2. If a nine-month term deposit at a bank earns a simple interest rate of 9% per annum how much
should be deposited to earn a Php.225 of interest?
I 9
P= t= =0.75
rt 12
225
P=
0.09 ( 0.75 )
225
P=
0.0675
P=Php .3,333 .33∨Php .3,333
3. How long will Php.3,000 accumulate to Php.5,000 if the discount rate is 4%?
D
t=
Fd
3,000
t=
5,000(0.04)
3,000
t=
200
t=15 years

4. Find the actual and approximate time from November 18, 2015 to May 9, 2016.

Month Actual Time Approximate Time

November 18, 2015 30-18=12 30-18=12
December 31 30
January 31 30
February 29 30
March 31 30
April 30 30
May 9, 2016 9 30
Total 173 171