Interest (Php) Matu
Test I. Directions: Complete the table below. Show your solution.
|
|
Principal (Php) |
Rate |
Time |
Interest (Php) |
Maturity Value (Php) |
|
1. |
1,000
|
3.50% |
1 year and 5 months |
52.50 |
|
|
2. |
|
0.85% |
2.25 years |
1,250 |
|
|
3. |
50,000
|
0.005% |
|
2,750 |
|
|
4. |
36,700
|
|
3 years and 9 months |
690 |
|
|
5. |
|
10.20% |
|
25,000 |
950,000 |
|
6. |
25,000
|
|
4 years and 5 months |
|
19,000 |
- I = 1000 × 0.035 × 1.5 = 52.5
I = p 52.50
Test II. Read the conversation below between two friends. Help Benny and Glen decide which interest rate to choose to meet Royce’s goal. Show your solution to support your answer.
Benny: I currently have Php 5,000 and I want this to become more than Php 6,000 after 1 year and 3 months. What will I do?
Glen: Let’s invest your money at 5%, 9% or 17% simple interest rates in the bank near here.
Benny: That’s a good idea. But, which of the interest rates will make my money beyond Php 6,000 in 1 year and 3 months?
Glen: …(thinking)
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