Math in the Modern World

Activity 11- Math of Finance

Name________________________________________ Score ______________________
Course/year/section_____________________________ Date _______________________

Answer each of the following. Show your complete solution.

1. Your electric bill is Php 4,132.75. You are charged 9% simple interest for late payments. How
much do you owe if you pay the bill 1 month past the due date?

2. If the commission on the sale of P16,950 worth of clothes is P1,271.25, what is the commission
rate?

3. Romeo earns P1,800 a week for working as a gasoline boy. If he saves 10% of his earning a
week, how much does he save in 4 weeks?

4. Sharon bought a microwave oven at a discount rate of 22%. If she only paid P3,215 at the
cashier, what is the regular price of the microwave oven?

5. Mary Eliza borrowed Php17,200 and after 3 years, paid back the loan with a 7% interest. How
much was the interest paid?

6. Monica Sanchez borrowed P125,000 and repaid the loan after 2 years at 81/2% simple interest.
Find the total amount paid by Monica.

7. The repayment on a loan was P20,810. If the loan was for 21 months at 15% interest a year, how
much was the principal?

8. In how many years will P600 amounted to P900 at 5% simple interest?

9. To what sum of money will P10,000 accumulate in 2 years and 9 months at 6% compounded
quarterly?

10. In order to accumulate P69,000 in 4 years, how much should one invest now at 17%
compounded semi-annually?

11. Find the compound amount and interest on P350,000 for 5 years and 6 months at 10%
compounded semi-annually.

12. An unpaid bill for Php 620 had a due date of March 10. A purchase of Php 214 was made on
March 15, and Php 67 was charged on March 30. A payment of Php 200 was made on March 22.
The interest on the average daily balance is 1.5% per month. Find the finance charge on the April
10 bill.