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    Cecile
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    This document contains a summative test on general math concepts. It has two sections: 1. A list of 10 terms to define related to interest rates, loan periods, amounts, and calculations. 2. A table to complete about conversion frequencies, the number of conversions per year, and conversion periods for different loan terms.

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    SUMMATIVE TEST IN GENERAL MATH

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    This document contains a summative test on general math concepts. It has two sections: 1. A list of 10 terms to define related to interest rates, loan periods, amounts, and calculations. 2. A table to complete about conversion frequencies, the number of conversions per year, and conversion periods for different loan terms.

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    17 views1 page

    Summative Test in General Math

    Uploaded by

    Cecile
    This document contains a summative test on general math concepts. It has two sections: 1. A list of 10 terms to define related to interest rates, loan periods, amounts, and calculations. 2. A table to complete about conversion frequencies, the number of conversions per year, and conversion periods for different loan terms.

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    © All Rights Reserved
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    SUMMATIVE TEST IN GENERAL MATH

    I. Read the sentences carefully. Determine what word/phrases describes the following:
    1. Maturity value
    2. Amount of interest paid
    3. Nominal interest rate
    4. Time period
    5. Principal amount
    6. Number of conversions per year
    7. Periodic interest rate
    8. Number of conversions of the loan
    9. Procedure in which the interest is periodically calculated and added to the principal
    10.Formula in order to get periodic interest rate.
    II. Complete the table below.
    Conversion Frequency No. of conversions per Conversion Period
    year
    a. 1 1 year
    semiannual b. 6months
    quarterly 4 c.
    d. e. 2 months
    monthly 12 1 month

    SUMMATIVE TEST IN GENERAL MATH


    I. Read the sentences carefully. Determine what word/phrases describes the following:
    1. Maturity value
    2. Amount of interest paid
    3. Nominal interest rate
    4. NTime period
    5. Principal amount
    6. Number of conversions per year
    7. Periodic interest rate
    8. Number of conversions of the loan
    9. Procedure in which the interest is periodically calculated and added to the principal
    10.Formula in order to get periodic interest rate.
    II. Complete the table below.
    Conversion Frequency No. of conversions per Conversion Period
    year
    d. 1 1 year
    semiannual e. 6months
    quarterly 4 f.
    d. e. 2 months
    monthly 12 1 month

    `G`

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