Name:______________________________________Score:_________________
Section:_____________________________________Date:__________________
Activity 1
Simple Interest
A. Complete the table:
Principal Rate Time Interest Final Amount
₱ 15 000 3 years ₱ 950
₱ 100 000 10% 1½ years
₱ 55 000 9% 45 days
₱ 5 400 13.8% ₱ 1 117.80
₱ 75 000 210 days ₱ 2 500
₱ 10 000 12.4% 8 months
7 ¼% 2 years ₱ 30 000
₱ 100 000 3 months ₱ 101 125
₱ 4 500 7 ½% ₱ 45.00
₱ 18 000 8 months ₱ 1 100
B. Solve the following:
1. What is the maturity value if ₱ 20 000 is invested for 3 years at 12% simple
interest?
2. Find the interest and final amount on ₱ 50 000 at 9 ½% for 90 days.
3. How long will it take for ₱ 8 000 to have a maturity value of ₱15 000, if the
interest rate is 12% simple interest?
4. Mr. Dalisay wishes to have ₱ 1 000 000 in his fund at the end of 15 years. If
he invested ₱ 300 000 at the start of the term, what interest rate is applied?
5. How much should be invested today in a fund that pays 13 ½% in order to
have ₱ 158 000 in 3 ½ years?
6. How long will it take for ₱ 35 200 to earn ₱ 7 400 if invested at 5 ½% simple
interest?
7. What simple interest rate is applied if ₱ 5 000 becomes ₱ 5 500 in 100 days?
8. Mr. de Leon borrowed some money at the rate of 5% per annum for the first 2
years, at the rate of 9% per annum for the next 3 years, and at the rate of
12% per annum for the period beyond 5 years. If he pays a total interest of
₱ 10 625 at the end of 9 years, how much money did he borrow?
9. Find the exact and ordinary interest earned if ₱ 40 000 is invested at 15%
simple interest for 200 days.
10. Determine the interest and maturity value of ₱ 70 000 if it is invested a 15%
simple interest for 145 days using exact and ordinary interest.
Activity 2
Simple Discount
Solve the following. Show your solution.
1. Find the proceeds of ₱ 50 000 due at the end of 8 months if the discount rate
is 10 ½%?
2. Find the discount interest if F = ₱ 14 000, d = 8% and t = 9 months.
3. Discount (or find the present value of) ₱ 20 000 for 150 days at a discount
rate of 7%.
4. Accumulate ₱ 50 000 for 3 years and 9 months at 7 ½% simple discount.
5. How long will it take for ₱ 20 500 to amount to ₱ 30 000, if the discount rate is
5 4/5%?
6. ABC bank charges 10 ¼% for discounting loans. If Aldrin agrees to repay
₱ 55 000 after 7 months, how much does he receive now?
7. If ₱ 25 000 is the present value of ₱ 30 500 due at the end of 16 months, find
the discount rate.
8. Mary needs ₱ 100 000 on June 12, 2018, and will settle the loan on February
12, 2019. What is the size of the loan she should borrow from Mr. Sotto who
charges 5% discount rate?
9. Find the amount due on December 5, 2019, if the present value on
October 5, 2019 is ₱ 50 000 at 4% simple discount.
10. If ₱ 11 200 is the present value of ₱ 13 700 due at the end of 16 months, find
a. discount interest rate
b. simple interest rate
COMPOUND INTEREST
Activity 3
Compound Interest
Solve the following. Show your solution.
1. Find the compound amount and interest if:
a. ₱ 45 000 is invested at 5% compounded quarterly for 4 years
b. ₱ 30 000 is invested at 7% compounded semi-annually for 5 years
c. ₱ 15 000 is invested at 12 ½% compounded annually for 6 years
d. ₱ 5 000 is invested at 15% compounded monthly for 4 years and 9 months.
2. Find the compound interest earned at the end of 1 year and 3 months if
₱ 25 000 is invested at 12% compounded monthly.
3. Accumulate ₱ 12 000 for 3 years and 9 months at 5 ½% compounded
quarterly.
4. Maricel borrows ₱ 10 000 with interest at 15% compounded monthly. How
much should she pay at the end of 2 years and 6 months to settle her debt?
5. When her granddaughter was born, Melay invested ₱ 20 000 at 12%
compounded quarterly. How much money will her granddaughter have on her
18th birthday?
6. Find the amount at the end of 15 years if ₱ 55 000 is invested at an interest
rate of 5% compounded semi-annually for the first 10 years and 3%
compounded quarterly for the next 5 years.
7. Manolo deposited ₱ 120 000 in a fund that pays 5% compounded annually for
the first 3 years, 4 ½% compounded semi-annually for the next 2 years and 3%
compounded quarterly thereafter. If money is invested for 10 years, how much
is in the fund after 10 years?
PRESENT VALUE AT COMPOUND INTEREST
Activity 4
Present Value
Solve the following. Show your solution.
1. Find the present value of ₱ 300 000 due at the end of 5 years if it is invested
at 5% compounded:
a. annually
b. semi-annually
c. quarterly
d. monthly
2. What sum is needed to accumulate to ₱ 50 000 in 3 years and 5 months if the
interest rate is 7% compounded monthly?
3. Jake wants to have ₱ 20 000 in 2 years to buy a new cell phone. How much
money should he invest today in a fund that earns 3% compounded quarterly
to get this amount?
4. How much must be deposited today in a bank to accumulate ₱ 100 000 after
5 years if the money earns 3.5% compounded semi-annually?
5. How much must be invested today at 3% compounded monthly to have
₱ 1 000 000 in 15 years?
6. Find the present value and compound interest of ₱ 30 000 due at the end of 5
years and 6 months if interest is at 15% compounded quarterly.
7. A certain amount was invested in a fund at a rate of 7 ½% simple interest for
the first 5 years, at 18% compounded monthly for the next 5 years, and at
14% compounded semi-annually for the remaining years. If the total amount
in the fund after 13 years is ₱ 95 300, find the initial amount invested in the
fund.
CREDIT CARD
Section:_____________________________________Date:__________________
Activity 5
Credit Cards
Solve the following.
1. A credit card had a previous balance of ₱ 7 000 on May 9. A purchase of
₱ 2 300 was made on May 14, and a payment of ₱ 1 050 was made on May
26. Find the average daily balance, finance charge and current balance if the
billing date is June 9 and the interest rate is 3.5% per month.
2. A credit card account had a balance of ₱ 6 200 on December 1. A purchase
of ₱ 1 800 was made on December 9 and a payment of ₱ 2 500 was made on
December 20. Find the average daily balance if the billing date is on
January 1.
3. Cardo’s bill of ₱ 6 000 was due on November 5. A purchase of ₱ 3 100 was
made on November 9 and ₱ 5 200 was charged on November 21. A payment
of ₱ 3 000 was made on November 16. The interest on the average daily
balance is 2.5% per month. Find the average daily balance, finance charge
and current balance if the billing date is every 5th of the month.
4. A credit card statement shows an unpaid balance of ₱ 8 150 on April 3.
Purchases made were: April 8 purchase of ₱ 2 000; April 15 purchase of
₱ 9 200; April 18 payment of ₱ 4 000; and April 23 purchase of ₱ 5 520. Find
the average daily balance, finance charge and current balance if the billing
date is on May 3 and the interest rate is 2.75% per month.
5. Christine made the following transactions: purchase of ₱ 5 520 on July 5;
purchase of ₱ 12 080 on July 12; payment of ₱ 5 000 on July 17 using her
credit card which had an unpaid bill of ₱ 7 200 on July 2. The interest on the
average daily balance is 2.5% per month. The next billing date is August 2.
Find the average daily balance, finance charge and current balance.
