ST.

IGNATIUS TECHNICAL INSTITUTE OF BUSINESS AND ARTS INC – SANTA ROSA

SENIOR HIGH SCHOOL DEPARTMENT
2ND Semester, A.Y. 2022-2023
SUMMATIVE TEST
BUSINESS FINANCE

NAME: DATE
SECTION: INSTRUCTOR

TEST I. Direction: Compute the given problem and show your solutions. No solution wrong. (2 pts. each).
1) Armi deposits Php 4,500 at the beginning of each month (12 times a year) in a fund that serves at 22%
compounded monthly. How much is the fund at the end of 5 years?
2) Jen made a bank deposit worth Php 15,000. With 9% annual interest, how much is the future value of his
deposit after 8 years?
3) What is the present value of annuity due of Php 2,500 payable at the beginning of every year for 3 years, if
interest rate is 6%?
4) What is the present value of annuity due of Php 2,600 payable at the beginning of every year for 7 years, if
interest rate is 12%?
5) You need to have Php 51,000 after 4 years. Assuming that you will only deposit once with a 7% annual
interest, how much will you deposit today?
6) What will a deposit of Php 4,500 at 11% compounded semiannually be worth if left in the bank for six years?
7) What annual interest rate would you need in order to have an ordinary annuity of Php7,500 per year
accumulate to Php 279,600 in 15 years?
8) You need to have Php 100,000 after 6 years. Assuming that you will only deposit once with a 9% annual
interest, how much will you deposit today?
9) How much will an ordinary annuity of Php 650 per year be worth in eight years at an annual interest rate of 6
percent?
10) Jen made a bank deposit worth Php 15,000. With 18% annual interest, how much is the future value of his
deposit after 6 years?

TEST II. Fill in the blanks of the table involving a simple interest.

TEST III. Complete the table for a compound interest involving P 40 000 loaned for a period of 5 years with 6%
interest compounded annually.

TEST IV. Complete the table to find the compound amount of P 50 000.00 invested at 10% interest. Show your
solutions