1. Fill in the blanks. Write the correct answer on the blank. 1. is a fee or rent that lenders charge to borrowers for the temporary use of the borrowed money. 2. is a type of interest that is calculated only on the original principal amount and is paid at the end of a loan. 3. of interest is the percentage of the principal that will be charged for specified period of time. 4. interest is a type of interest wherein the number of days is computed based on 360 days in a year. 5. is a type of interest in which interest is periodically calculated and added to the principal. 6. interest rate refers to the periodic interest rate multiplied by the number of periods in a year. 7. interest rate is calculated based on the nominal interest rate and its compounding periods. It is considered as a more accurate measure of interest, 8. Total repayment of a loan on its maturity date is also known as 9. interest is a type of interest wherein the number of days is computed based on 365 days in a year. 10. Banker's Rule: 11. Formulas. Give the formulas of the following. A. Simple Interest. Given the following variables, write the formulas. P= Principal amount of the loan or investment r= Annual rate of simple interest t= Time period (term) of the loan or investment 1= Amount of interest paid or received F= Maturity value of the loan or investment 1. 1= 3. F= 2. P= 4. F= B. Compound Interest. F= Maturity value of the loan or investment m= Number of conversion per year p= Principal amount of the loan or investment t= Time period (term) of the loan investment t= Amount of interest paid or received i= Periodic interest rate 11. Problem Solving Solve the following completely. 1. Find the interest on P15,800 0 at 5.5% from January 09, 2018 to June 24,2018 using the. following: a. Ordinary interest using actual time b. Ordinary interest using approximate time c. Exact interest using actual time d. Exact interest using approximate time 2. The repayment on a loan was Php 20300 . If the loan was for 24 months at 10% interest a year, how much was the principal? 4. At what nominal rate, compounded monthly, will a principal yield an interest that is equivalent to an effective rate of 18% ? 3. Alexander borrows Php 47,400 with interest at 18% compounded quarterly. How much should he pay to the creditor after 3 years to pay off his debt? 5. Five years ago, a trust fund amounting to Php 345,000 was invested at 15% compounded semiannually. Find the amount in the fund now. 1. Fill in the blanks. Write the correct answer on the blank. 1. is a fee or rent that lenders charge to borrowers for the temporary use of the borrowed money. 2. is a type of interest that is calculated only on the original principal amount and is paid at the end of a loan. 3. of interest is the percentage of the principal that will be charged for specified period of time. 4. interest is a type of interest wherein the number of days is computed based on 360 days in a year. 5. is a type of interest in which interest is periodically calculated and added to the principal. 6. interest rate refers to the periodic interest rate multiplied by the number of periods in a year. 7. interest rate is calculated based on the nominal interest rate and its compounding periods. It is considered as a more accurate measure of interest, 8. Total repayment of a loan on its maturity date is also known as 9. interest is a type of interest wherein the number of days is computed based on 365 days in a year. 10. Banker's Rule: 11. Formulas. Give the formulas of the following. A. Simple Interest. Given the following variables, write the formulas. P= Principal amount of the loan or investment r= Annual rate of simple interest t= Time period (term) of the loan or investment 1= Amount of interest paid or received F= Maturity value of the loan or investment 1. 1= 3. F= 2. P= 4. F= B. Compound Interest. F= Maturity value of the loan or investment m= Number of conversion per year p= Principal amount of the loan or investment t= Time period (term) of the loan investment t= Amount of interest paid or received i= Periodic interest rate 11. Problem Solving Solve the following completely. 1. Find the interest on P15,800 0 at 5.5% from January 09, 2018 to June 24,2018 using the. following: a. Ordinary interest using actual time b. Ordinary interest using approximate time c. Exact interest using actual time d. Exact interest using approximate time