Simple and Compound Interest

Which interest is computed on the principal and then added to it?

• simple

• compound

• annuity due

• ordinary annuity

The simple interest formula is I_s = Prt. What does the t represent?

• principal

• time

• interest

• percent rate

All of the following are used to find simple interest, EXCEPT?

• principal

• rate of interest

• time

• future value

It is the amount after t years that the lender will receive from the borrower.

• Future Value

• Present Value

• Interest

• Principal

Rate of interest must be converted into _________ before substituting to the formula of finding the interest.

• Fractions

• Decimal

• Mixed numbers

• Percentage

     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?

• 𝐼_s = 𝑃𝑟𝑡

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

• ₱ 15,472.50

• ₱ 150,472.50

• ₱ 600,472.50

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. 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 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