Solve the following problems involving interest. Write the answer on the line provided. 

1. A bank offers 3.5% annual simple interest rate for a particular deposit. How much interest will be earned if Php 120,000.00 pesos is deposited in this savings account for 5 year? ____________________

2. When invested at an annual interest rate of 7.5%, the amount earned P40,200.00 of simple interest in 2.5 years. How much money was originally invested? ____________________

3. Gardo borrowed P150,000.00 and paid P1,250.00 interest for 6 months. What was the rate of interest? ____________________

4. How long in years will it take for P10,300.00 to amount to P20,000.00 at 9.75% simple interest? ____________________

5. Trex invested P15,600.00 at 10.25% interest rate. How long will take for his investment to earn an interest of P9,055.00? ____________________

6. What is the interest rate per conversion period if P49,500.00 was invested at 2.5% compounded semi-annually for 5 years and 6 months? ____________________

7. At what interest rate compounded semi-annually will P25,000.00 accumulate to P47,000.00 in 10 years? ____________________

8. MU University anticipates additional expenses of P1,367,800.00 for a new equipment needed for offering a new course 5 years from now. How much should be invested in an account that earns 12% compounded monthly? ____________________

9. A loan P175,000.00 at 7.5% compounded quarterly was paid back with an amount of P500,000.00 at the end of the period. For how long was the money borrowed? ____________________

10. Jenos borrows P55,000.00 and agrees to pay P80,500.00 after 2 years. At what rate, compounded monthly, is the interest computed? ____________________

Answer rating: 100% (QA)

Solution 1 SI 120000x 35x5 2 33 67 Sy 1250 40200 P x 75 ... View the full answer