gmath

It refers to the person (or institution) who invests money or makes the funds available.

• Borrower

• Lender

• Stockholder

• Consumer

It refers to the person (or institution) who owes the money or avails of the funds from the lender.

• Borrower

• Lender

• Stockholder

• Consumer

It is the date on which money is received by the borrower.

• Future Date

• Maturity Date

• Origin Date

• Term

It is the payment for the use of borrowed money, or the amount earned on invested money.

• Principal

• Time

• Interest

• Rate of interest

It is the date on which the money borrowed, or loan is to be completely repaid.

• Future Date

• Maturity Date

• Origin Date

• Term

What is the conversion period for monthly?

• 1

• 2

• 4

• 12

What is the conversion period if it is not specified in the problem?

• monthly

• quarterly

• semi-annually

• annually

What is the compound interest on ₱540 at 16 ⅔% per annum for 2 years?

• ₱195

• ₱295

• ₱395

• ₱495

Pao lends a sum of money for 10 years at 5% simple interest. Ren lends double that amount for 5 years at the same rate of interest. Which statement is true?

• Pao and Ren will get the same amount as interest.

• Pao will get twice the amount of interest that Ren would get.

• Ren will get twice the amount of interest that Pao would get.

• Pao will get thrice the amount of interest that Ren would get.

If SI and CI denote the simple interest and compound interest respectively on the same sum at the same rate of interest for the same period, what is the relation between SI and CI?

• CI < SI

• CI = SI

• CI ≥ SI

• CI ≤ SI