Colon National High School

INTEGRATED SENIOR HIGH SCHOOL

Colon, Maasim, Sarangani Province
Second Quarter Examinations (General Mathematics)

DIRECTION: Shade the letter of the correct answer. You are allowed to use calculator.

1. The amount of money borrowed or invested

A. Principal B. Interest 13. A type of annuity in which the payments are made at
C. Future Value D. Time the end of each payment interval
2. Principal + Interest = 14. A worker who has gained extra income now and
A. Principal B. Interest wants to save his money so that he can withdraw his
C. Future Value D. Time money monthly starting on the day of his retirement
3. The I in the simple interest formula stands for... from work
A. Interest Rate in decimal 15. Monthly installment payment of a car, lot or house
B. Interest Earned with an interest rate that is compounded annually;
C. Interest Rate paying a debt semi-annually when the interest is
D. Account Balance compounded monthly
4. The P in the simple interest formula stands for... 16. A real estate agent is urging a condominium unit
A. Price of borrowing money buyer to purchase now and start paying after 3 years
B. Principal when the condominium is ready for occupancy.
C. Interest Earned 17. Installment payment for an appliance at the end of
D. Percentage rate each month with interest compounded monthly
5. The r in the simple interest formula stands for... 18. A credit card company offering its clients to purchase
A. Interest rate in decimal form today but to start paying monthly with their choice of
B. Interest rate in percentage form term after 3 months.
C. Time in months 19. Mr. Torres deposited P 10,000.00 on September 2,
D. Interest rate 2010 and had deposited the same amount on the
6. The t in the simple interest formula stands for... same date very year until September 2, 2014. The
A. Time is quarters bank credits 2.2% interest compounded annually to
B. Time is days Mr. Torres’ account on the same date.
C. Time in years 20. Installment payment for an appliance at the end of
D. Time in months each month with interest compounded annually
7. Bruno was given P 2,000.00 when he turned 3 years 21. A sequence of payments made at equal (fixed)
old. His parents invested it at a 2% compounded intervals or periods of time
annually. No deposits or withdrawals were made. A. Annuity B. Term
Which expression can be used to determine how C. Regular Payment D. Future Value
much money Bruno had in the account when he 22. Time between the first payment interval and last
turned 16? payment interval
13 A. Annuity B. Term
A. 2000 ( 1+0.02 )
13 C. Regular Payment D. Future Value
B. 2000 ( 1−0.02 ) 23. The amount of each payment
16 A. Annuity B. Term
C. 2000 ( 1+0.02 )
16 C. Regular Payment D. Future Value
D. 2000 ( 1−0.02 ) 24. The amount an investment will be worth after one or
8. When the term is 3 years and 6 months and more periods of time is called
money is compounded semi – annually, the total A. Future value
number of conversion periods is B. Present value
A. 3 B. 7 C. Principal value
C. 9 D. 18 D. Discounted value
9. When money is compounded monthly, the frequency 25. The future or present value of an amount depends
of conversion is upon:
A. 2 B. 4 A. the interest rate.
C. 6 D. 12 B. the number of periods.
10. When the total number of conversion periods is 12 C. number of times per year
and the term is 6 years, then the money is compounding occurs.
compounded D. all of the above.
A. semi - annually B. annually 26. A person (or institution) who invests the money or
C. quarterly D. monthly makes the funds available
For items 11 to 20, refer to the choices below A. lender B. borrower
A. Simple Annuity C. collateral D. co-maker
B. General Annuity 27. A person (or institution) who owes the money or
C. Deferred Annuity avails of the funds from the lender
D. Periodic Annuity A. lender B. borrower
11. An annuity that does not begin until a given time C. collateral D. co-maker
interval has passed 28. The date on which money is received by the borrower
12. An annuity where the payment interval is not the A. maturity date B. loan date
same as the interest compounding period C. expiration date D. termination
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 A. 2900 B. 3000
29. The date on which the money borrowed or loan is to C. 3100 D. 2800
be completely repaid 41. Tom earned P 504 when he invested P 16,820 for 8
A. maturity date B. loan date months. His rate of simple interest per annum was:
C. expiration date D. termination A. 0.37% B. 2.00%
30. The amount of time in years the money is borrowed or C. 3.00% D. 4.49
invested; length of time between the origin and 42. Find compound interest earned (to the nearest
maturity dates centavo) by the deposit P 1,800.00 at 6%
A. term B. period compounded quarterly for 6 years
C. cycle D. investment A. P 648.00 B. P 753.33
31. amount paid or earned for the use of money C. P 1,968.20 D. P 773.11
A. percentage B. interest 43. Gloria deposited P6000 at 8% compounded annually
B. commission C. rate interest for 4 years. What is the total amount?
32. If a person wants to know what an amount deposited A. P 2,162. 93 B. P 7, 558.27
today at 4% will be worth in 4 years, he is asking its C. P 1, 558.27 D. P 8, 162.93
A. future value B. present value 44. Thirty years ago, your father invested P 11,000.00
C. depreciation D. appreciation compounded annually. Today, that investment is
33. When a person wants to know what he must deposit worth P 287, 047.00. What is the average annual
today so that in 5 years he will have $5,000, he is rate of return of your father earned on his interest?
asking its A. 11.14% B. 11.27%
A. future value B. present value C. 11.387% D. 11.49%
C. depreciation D. appreciation 45. A certain amount of money becomes P 1,352.00 after
34. Annuities: 2 years at 4% compounded annually. The amount is
A. are a stream of equal payments at A. P 1,200.00 B. P 1,250.00
unequal time intervals. C. P 1,280.00 D. P 1,296.00
B. are a stream of equal payments at 46. You want to be able to set up a fund that will last for
equal time intervals. 20 years and you feel that you can earn 4.3%
C. are a stream of equal payments that compounded semi-annually. How much money do
continue forever. you have to deposit today in order to be able to
D. all of the above. provide annual payments of $3000 each?
35. The present value of a future amount: A. $80 262.73 B. $39 708.99
A. will always be less than the future C. $92 612.74 D. $39 549.03
amount 47. Deposits of $180 made at the end of each quarter
B. can be calculated precisely if the discount accumulate interest at 3.9% compounded monthly.
rate and number of periods is known How much will have accumulated after five years?
C. is worth less than the future value A. $12035.20 B. $3955.01
D. both a. and b. above are true C. $3600.00 D. $3953.79
36. Mr. Smith deposited P 40, 000 in a bank and earned 48. What is the future value of an annuity with monthly
simple interest at 7 % per annum for two years. deposits of $175 for a period on 11 years at an
Calculate the interest earned at the end of the period. interest rate of 7.32% compounded monthly? The
A. P 4,000.00 B. P 2,800.00 deposits are made at the end of the month.
C. P 5,600.00 D. P 3,400.00 A. $26812412.59
37. A man wishes to invest P 1, 500. He can invest in B. $1984.80
GwapaMi Investment club which pays simple interest C. $35335.04 C. $2809.42
of 8% for 3 years. What is the amount in his account 49. A 5-year ordinary annuity has a present value of
after 3 years? $1,000.  If the interest rate is 8 percent, the amount
A. P 18,321.00 B. P 1,860.00 of each annuity payment is closest to which of the
C. P 1,830.00 D. P 1,524.00 following?
38. John invested a sum of money, which earned P 750 A.  $250.44 B.  $231.91
simple interest at the rate of 6% per annum over 2 C.  $181.62 D. $184.08
years. The amount invested was: 50. A young couple buys their dream house. After paying
A. P 88.80 B. P 6250 their down payment and closing costs, the couple
C. P 3125 D. P 2125 has borrowed $400,000 from the bank. The terms of
39. At what simple interest rate will an amount of money the mortgage are 30 years of monthly payments of
double itself in 10 years? 6% with monthly compounding. What is the monthly
A. 5% B. 10% payment for the couple?
C. 15% D. 20% A. $2,398.20 B. $2,421.63
40. Ram gets 2600 for 2000 in 5 years at some rate of C. $2,697.98 D. $2,700.00
simple interest. Had he invested in other places
where rate of simple interest is 3% more than current
rate, how much would have Ram got in same time?

- End of the Test –

Good Luck and God bless!
Enjoy your Semestral Break!
Prepared by:

MARIEL G. VILLANUEVA
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Subject Teacher

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