Name: Bea Vianca S.

Nieto Rating:
Year and Section: 1- D Professor / Instructor: Sir Darcy
Due of Submission: November 26, 2021

ASSESSMENT TASK

I. Determine the actual and approximate time between the two dates.
1. July 3, 1987 to October 6, 1987
2. February 9, 2001 to August 24, 2001
3. November 14, 2007 to March 19, 2008
4. December 25, 2012 to December 24, 2013
5. January 8, 2019 to June 5, 2020

Actual Time Approximate Time

1. 95 93
2. 196 195
3. 126 125
4. 364 359
5. 494 488

II. Find the maturity date of the following notes using actual and approximate time.
Date of Loan Term of Loan
1. April 9, 1997 45 days
2. July 16, 2006 90 days
3. January 12, 2008 120 days
4. May 22, 2012 135 days
5. September 12, 2017 210 days

Actual Time Approximate Time

1. May 24, 1997 May 24, 1997
2. October 14, 2006 October 16, 2006
3. May 11, 2008 May 12, 2008
4. October 4, 2012 October 7, 2012
5. April 10, 2018 April 12, 2018
Name: Bea Vianca S. Nieto Rating:
Year and Section: 1- D Professor / Instructor: Sir Darcy
Due of Submission: November 26, 2021

III. Problem Solving.

1. Find the simple interest on a ₱72,250-loan at 8.25% interest per annum from June
12, 2009 to November 6, 2009 using the following:
a. ordinary interest in c. exact interest in actual
actual time time
I = (₱72, 250) (0.0825) I = (₱72, 250) (0.0825)
(147/360) (147/365)
= ₱2 433.92 = ₱2 400.58
b. ordinary interest in d. exact interest in
approximate time approximate time
I = (₱72, 250) (0.0825) I = (₱72, 250) (0.0825)
(144/360) (145/365)
= ₱2 384.25 = ₱ 2 367.92

2. Miya borrowed ₱50,000 in a bank. After 2 years and 8 months, she paid the bank,
₱60,000. What is the effective interest rate of the bank?
I=F–P
₱60, 000 – ₱50, 000
I = ₱10, 000
3. A 4-year term deposit at a bank has an interest rate of 5.2% per year. How much
will have to be deposited in that bank to earn ₱27,600?
I = Prt
I = ₱27, 600
(0.052) (4)
I = ₱132, 692.31
4. Layla invested a certain amount of money at Moon Life Financing at an annual rate
of 7%. If she withdraws all of her money in the firm which amounts to ₱ 123,450 after
1 year, 8 months, and 15 days, how much did she invest in the firm?
P = I / rt
₱123, 450
(0.07) (615/360)
= ₱1,031,328.32
 Name: Bea Vianca S. Nieto Rating:
Year and Section: 1- D Professor / Instructor: Sir Darcy
Due of Submission: November 26, 2021

ASSESSMENT TASK

I. Complete the information below using compound amounts and compound interests.
TOTAL
FUTURE PRESENT COMPOUND NOMINAL CONVERSION PERIODIC TERM NUMBER OF
VALUE VALUE INTEREST RATE FREQUENCY RATE CONVERSION
₱3,378.49 ₱3,000 ₱378.49 12% 6 2% 1Yr. 6
₱12,000 ₱9,735.90 ₱2,264.10 3.5% 4 0.875% 6Yrs. 24
₱131,803.61 ₱64,000 ₱67,803.61 10.5% 3 3.5% 7Yrs. 21
₱94,500 ₱64,380.02 ₱30,119.98 13% 4 3.25% 3Yrs. 12
₱135,000 ₱120,000 ₱15,000 12% 12 1% 1Yrs. 12
₱250,000 ₱200,000 ₱50,000 3% 2 1.5% 8Yrs. 16
₱44,813.62 ₱34,000 ₱10,813.62 11% 4 2.8% 2½Yrs. 10
₱79,000 ₱41,898.75 ₱37,101.25 16% 12 1.33% 4Yrs. 48
₱98,270 ₱94,750 ₱3,520 7.4% 2 3.72% 9Yrs. 18
₱48,575.25 ₱26,243.70 ₱22,331.55 8% 1 8% 8Yrs. 8
PURPLE = My Answer

II. Determine the effective interest rate of the following compound rates.

1. 20% rate compounded semi-annually = r= (1 + 0.2)² – 1 = 0.44 OR 44%

2. 16% rate compounded quarterly = r= (1 + 0.16)⁴ – 1 = 0.8106 OR 81%

3. 12% rate compounded annually = r= (1 + 0.12)¹ – 1 = 0.12 OR 12%

4. 18% rate compounded monthly = r= (1 + 0.18)¹² – 1 = 6.29 OR 629%

5. 15% rate compounded every four months = r= (1 + 0.15)³ – 1 = 0.5208 OR 52%

6. 10% rate compounded bimonthly = r = (1 + 0.10)⁶ – 1 = 0.77 OR 77%

7. 14% rate compounded daily = r= (1 + 0.14)³⁶⁰ – 1 = 15.0242%

8. 13% rate compounded continuously = r= (1 + 0.13) – 1 = 0.1388 or 14%

III. Problem Solving

1. On March 20, 2019, Rico borrowed ₱12,400 from a cooperative at 10% rate
compounded annually. If Rico targets to pay his loan on December 20, 2019,
how much money does he need?
 The money that Rico needs to pay for his loan is ₱13, 640.

2. Mr. Crowley holds a note dated June 12, 2020 that has a maturity value of
₱56,000 after 3 years at 7.35% interest rate compounded semi-annually.
a. What is the face value of Mr. Crowley’s note?
 F = (₱56,000) (1 + 0.0735)⁶
F = ₱85, 703.85
b. If he is going to sell the note after 1 ½ year, how much will he be paid?
 ₱69, 277.81

3. How long will a ₱30,000 take to double its amount at a rate of 4.5% interest
rate compounded continuously?
 15 years and 5 months

4. Determine the compound interest gained by a ₱84,000-investment invested

at 2% interest compounded monthly.
 ₱17, 766.57

5. If the ₱42,000 that Johnson invested in a bank became ₱74,000 at the end of 2
years compounded semiannually, what is the interest rate is given to Johnson’s
investment?
 0.327 or 33%

6. After how many years will it take for ₱20,000 to gain ₱10,000 at a rate of
6.8% interest compounded daily?
 6 years or about 5.963 years