Simple and Compound Interest Quiz.

A. Analyze the given for each item below. Write SIMPLE INTEREST if it’s a simple interest, or COMPOUND INTEREST if it’s a
compound interest. (1ponit each, no need to write the solution or computation)

_______________ 1.) Interest earned = 4590, Principal amount =15000, interest rate =3.4%, term/time = 9 years.

_______________ 2.) Interest earned = 5317.40, Principal amount =20256.75, interest rate =5%, term/time =5 years and 4
months.

_______________ 3.) Interest earned =8142.01, Principal amount =20000, interest rate =5%, term/time =7 years.

_______________ 4.) Interest earned =88.92, Principal amount =400, interest rate =5.05%, term/time =4 years.

_______________ 5.) Interest earned =49083.27, Principal amount =100 000, interest rate =4%, term/time =10.

B. Solve the following problem below.

1.) Asta invested in a bank account that pays a simple interest rate of 3.07%. How much will he have in his bank account
after 8 years and 6 months assuming that he will not withdraw or deposit in that period?

Given: ________________________________ Formula/s: __________________________

Number sentence/s: ___________________________ Raw answer: ___________________________

Final answer with complete label: ____________________________________________________

2.) What simple interest rate is being charged to double the investment in 10 years?

Given: ________________________________ Formula/s: __________________________

Number sentence/s: ___________________________ Raw answer: ___________________________

Final answer with complete label: ____________________________________________________

3.) Sumulong wants to have an amount of 150,000 at the end of a certain term. If he plans to invest 95,000 pesos in a
corporation that offers a 5% simple interest rate, how long will it take for his investment to have his target amount?

Given: ________________________________ Formula/s: __________________________

Number sentence/s: ___________________________ Raw answer: ___________________________

Final answer with complete label: ____________________________________________________

4.) A bank offers an investment that will yield a rate of 2.8% compounded quarterly. How much you will earn if you
deposit 1,000,000 pesos and withdraw it after 3 years?

Given: ________________________________ Formula/s: __________________________

Number sentence/s: ___________________________ Raw answer: ___________________________

Final answer with complete label: ____________________________________________________

5.) 10 years and 10 months ago Ana deposited in a bank that offered her a rate of 2.14% compounded semi-annually. If
she will withdraw all her money now, she will get a total of 505,482.71 pesos, how much money did she deposit, and
how much she will earn now?

Given: ________________________________ Formula/s: __________________________

Number sentence/s: ___________________________ Raw answer: ___________________________

Final answer with complete label: ____________________________________________________

6.) Long time ago, the Fire Nation Leader invested in the Air Temple Bank with an annual interest rate of 1.6%
compounded annually. Now, the total money is triple the invested amount. How many years is the investment now?

Given: ________________________________ Formula/s: __________________________

Number sentence/s: ___________________________ Raw answer: ___________________________

Final answer with complete label: ____________________________________________________

7.) What compound annual interest rate should be charged to an investment worth 500 pesos to earning an amount of
1375 pesos in 20 years?

Given: ________________________________ Formula/s: __________________________

Number sentence/s: ___________________________ Raw answer: ___________________________

Final answer with complete label: ____________________________________________________