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062223 [H]
Created @June 22, 2023 6:33 PM

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1. (3points) A 5-year investment has a maturity value of Php 27, 500. If the applied rate is 7.5% simple interest, what is
the original principal?

F = P hp27, 500
r = 7.5%
t = 5 years
F = P (1 + rt)
27, 500 = P (1 + 0.075 ∗ 5)
P = 20, 000
Original Principal = Php20,000

2. (3 points) How long will it take a Php 30, 000 debt to earn an interest of Php 4, 500 if the simple interest being
charged is 9%.

P = P hp30, 000
I = P hp4, 500
r = 9%
t = PIr
4,500
t = 30,000∗0.09
t = 1.67
Time = 1.67 years

3. (3 points) James invested Php 35, 000 and had Php 39, 250 returned to him 2 years and 9 months later. At what
simple interest rate did his money earn?

P = P hp35, 000
F = P hp39, 250
t = 2 years 9 months
−P
r = FPt
r = 39,500−35,000
35,000∗(2+ 9 ) 12
r = 0.0441558
r = 4.41558%
Rate = 4.42%

4. (3 points) Jen needs to raise Php 80, 000 in 15 months. What amount should she set aside now and invest in a fund
earning 2% per month to reach her target amount?

062223 [H] 1
 F = P hp80, 000
t = 15
12
r = 2%
F = P (1 + rt)
15
80, 000 = P (1 + 0.02 ∗ 12 )
P = 78, 048.78048
Principal = Php78,048.78

5. (3 points) Find the compound amount due in 6 years and 2 months if Php 350, 000 is invested at 12% interest
compounded quarterly.

t = 6 years 2 months
P = P hp350, 000
r = 12%
n=4
F = P (1 + nr )nt
2 )
F = 350, 000(1 + 0.12
4 )
4∗(6+ 12

F = P hp725, 637.28057
Compound Amount = Php725,637.28

062223 [H] 2