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- 1. Multiple Choice
It is a type of interest that is calculated based on the actual number of days in a year.
Simple Interest
Compound Interest
Ordinary Interest
Exact Interest
- 2. Multiple Choice
It is a type of interest that is calculated based on 360 day-calendar.
Simple Interest
Compound Interest
Ordinary Interest
Exact Interest
- 3. Multiple Choice
It is the initial amount that is either borrowed or invested.
Interest
Principal
Rate
Time
- 4. Multiple Choice
It is the unit that is being used for time in calculating the simple interest.
Year
Month
Day
Hour
- 5. Multiple Choice
It is type of interest that is calculated based on the principal amount and accumulated interest from the previous period.
Simple Interest
Compound Interest
Ordinary Interest
Exact Interest
- 6. Multiple Choice
If an interest is compounded annually, how many compounding periods are there in a year?
One
Two
Four
Twelve
- 7. Multiple Choice
An interest is compounded twice in a year. What is the compounding period used?
Annually
Semi-annually
Quarterly
Monthly
- 8. Multiple Choice
A note will run for 3.5 years and the interest will be compounded quarterly. What is the total number of compounding period of the note?
3.5 periods
12 periods
14 periods
15 periods
- 9. Multiple Choice
The percentage of return that the lender will receive is also called
Principal
Interest Rate
Simple Interest
Compound Interest
- 10. Multiple Choice
If an interest is compounded every month, how many compounding periods are there if it will take 4 years and 4 months?
12 periods
24 periods
48 periods
52 periods
- 11. Multiple Choice
Suppose you have deposited ₱10,000 in a bank that gives 10 % simple interest. How much interest will you receive after 5 years?
2, 000
3, 000
4, 000
5, 000
- 12. Multiple Choice
Mary deposited 8, 000 in a savings account for 4 years at 0.5% compounded quarterly. How much will be the interest of her investment?
8, 000
151.61
8, 161.51
161.51
- 13. Multiple Choice
Alfred decided to invest money in a bank amounting to ₱30,000.00 at the rate of 6.5% a year. How much will be his money if he invested it for one decade compounded annually?
55, 449.84
56, 494.84
55, 449.80
56, 314.12
- 14. Multiple Choice
If you deposit $12000 into an account paying 7% annual interest compounded monthly, how much money will be in the account after 10 years?
24, 115.94
24, 151.94
24, 115.93
24, 151.93
- 15. Multiple Choice
If you deposit $13000 into an account paying 8% annual interest compounded annually, how much money will be in the account after 15 years?
25, 183.52
25, 138.52
38, 183.52
41, 238.20
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