Simple Interest and Compound Interest

Jenny invested money from Lucena Rural Bank at 1.05% simple interest for 3 years. It was charged ₱ 472.50 for interest. What formula will be used to determine the amount of borrowed money?

• 𝐼𝑠=𝑃𝑟𝑡

• 𝑃=𝐼𝑠𝑟𝑡

• 𝐼𝑐=𝐹(1+𝑗)𝑛

• 𝑃=𝐹(1+𝑟)𝑡

Jenny invested money from Lucena Rural Bank at 1.05% simple interest for 3 years. It was charged ₱ 472.50 for interest. How much money will Jenny invest?

• ₱ 1,500.00

• ₱ 15,000.00

• ₱ 150,000.00

• ₱ 600,000.00

Jenny invested money from Lucena Rural Bank at 1.05% simple interest for 3 years. It was charged ₱ 472.50 for interest. How much is her accumulated money after 3 years?

• ₱ 1,947.50.00

• ₱ 15,472.50.00

• ₱ 150,472.50.00        

• ₱ 600,472.50.00

Jenny invested money from Lucena Rural Bank at 1.05% simple interest for 3 years. It was charged ₱ 472.50 for interest. If Jenny invested the same amount of money at Lucena Cooperative Bank who is offering an interest rate of 1.5% for 3 years how much interest will she gain?

• ₱ 325.00

• ₱ 475.00

• ₱ 675.00

• ₱ 825.00

Jenny invested money from Lucena Rural Bank at 1.05% simple interest for 3 years. It was charged ₱ 472.50 for interest. How much will she accumulate in 3 years if she invested in Lucena Cooperative Bank?

• ₱ 15,325.00

• ₱ 15,425.00

• ₱ 15,625.00

• ₱ 15,675.00

Joy has ₱ 100,000.00 to invest at 1.11% compounded monthly. What is the total number of compounding frequency if the investment matures after 6 years?

• 6

• 12

• 18

• 72

Joy has ₱ 100,000.00 to invest at 1.11% compounded monthly. 

How much is the interest rate per conversion period?

• 0.0925%

• 0.925%

• 9.25%

• 92.5%

Joy has ₱ 100,000.00 to invest at 1.11% compounded monthly. How much is the maturity value of his investment in 4 years?

• ₱ 104,537.90

• ₱ 113,725.96

• ₱ 166,671.30

• ₱ 167,476.38

Joy has ₱ 100,000.00 to invest at 1.11% compounded monthly. How much is the compound interest after 4 years?

• ₱ 4,537.90

• ₱ 13,725.96

• ₱ 66,671.30

• ₱ 67,746.38

Joy has ₱ 100,000.00 to invest at 1.11% compounded monthly. How much is the additional interest earned if instead of 4 years the investment matures after 6 years?

• ₱ 6,883.49

• ₱ 4,537.90

• ₱ 5,822.68     

• ₱ 2,345.59