MATH158 ASSIGNMENT #1 WITH SOLUTION

1. Using four methods, find the interest earned on Php1.25 M at 5 % simple interest invested
from Dec 23, 2019 to Jan 3, 2021.

P= 1.25M
r= 5 2/5 % =27/5%=27/500
Date= Dec. 23, 2019 – Jan. 03, 2021

Actual Time Approximate Time

Dec. 23, 2019 9 10
Jan. 2020 31 30
Feb. 2020 29 30
March 2020 31 30
April 2020 30 30
May 2020 31 30
June 2020 30 30
July 2020 31 30
Aug 2020 31 30
Sept 2020 30 30
Oct 2020 31 30
Nov 2020 30 30
Dec 2020 31 30
Jan 03, 2021 3 3
Total 378 373

Solution:
𝑰𝒐(𝒂𝒄𝒕) = 𝑷𝒓𝒅(𝒂𝒄𝒕) 𝑰𝑬(𝒂𝒄𝒕) = 𝑷𝒓𝒅(𝒂𝒄𝒕)
𝟑𝟔𝟎 𝟑𝟔𝟔
= (1,250,000) (.054)378 = (1,250,000) (.054) 378
360 366
𝑰𝒐(𝒂𝒄𝒕) = 70,875 𝑰𝑬(𝒂𝒄𝒕) = 69,713.1151

𝑰𝒐(𝒂𝒑𝒑) = 𝑷𝒓𝒅(𝒂𝒑𝒑) 𝑰𝑬(𝒂𝒑𝒑) = 𝑷𝒓𝒅(𝒂𝒑𝒑)

𝟑𝟔𝟎 𝟑𝟔𝟔
= (1,250,000) (.054)373 = (1,250,000) (.054)373
360 366
𝑰𝒐(𝒂pp) = 69,939.4999 𝑰𝑬(𝒂𝒑𝒑) = 68,790.9834

JENNYLYN CORTEL MATH158_AM12

 2. Amy borrowed Php45500 on March 3, 2021. If the 10% interest rate was deducted in advance
and she received Php40000, when she will pay the loan?

From: I= Prt
t=I
Pr

= 5,500
(45,500) (.10)

t= 1.2088 = .2088 yr. (12months) = 2.5056 months

1 yr.
= .5056 months (30 days) = 15 days
1 month
t= 1 year, 2 months and 15days
Date is May 18, 2022

JENNYLYN CORTEL MATH158_AM12