GE1707

Name: Gabriel v yim Section: BSHM-101

Date:
Score:

Directions: Solve the following. Avoid any form of erasures. (25 points)

1. How much interest will be charged on ₱7,300 borrowed for three (3) years at a simple interest
rate of 12% per annum? (5 points)
I=Prt
=₱7,300(.12)(3)
= ₱2,628

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 ₱225 of interest? (5 points)
I
P
rt ¿ = 225/(.09)(.75) = 225/0.0675
= ₱3,333
¿
3. How long will ₱3,000 accumulate to ₱5,000 if the discount rate is 4%? (5 points)
t = I/Pr
= 3000/(5000)(.04)
= 3000/200
= 15 days

4. Find the actual and approximate time from November 18, 2015 to May 9, 2016. (2 items x 5
points)

Nov. 18, 2015 18-30=12

Dec. 30
Jan. 30
Feb. 30
March 30
April 30
May 9
total 171

Rubrics for scoring:

Criteria Points
Complete solution with correct answer 5
Last two (2) major steps of the solution are incorrect 4
Half of the solution is correct 3
First two (2) major steps of the solution are correct 2
First major step of the solution is correct 1
05 Activity 1 *Property of STI
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