Raymond R.

Mesinas II
11 - Fleming
GenMath PETA
1) Raymond wants to buy a Kuru Toga mechanical pencil worth ₱755.00 but he doesn’t have enough money yet. The item has 2
years left until the sale ends. How much will he need to put in the bank at a 2% interest compounded monthly to have enough
for just at the end of the sale?
Given: Formula: Solution:
F=755 i
m
0.02
12(2)
j= 755=P (1+ )
m
i =2 % m 12
mt
m=12 F=P(1+ j) 755=P (1.04077612)

t=2 P=725.42018

P=Unknown
Raymond needs to put ₱725.43 in the bank to have ₱755.00 in 2 years.

2) Rmond wants to buy a new laptop worth ₱310,736.58. A dealer gave an option for it to be paid for ₱4,999.00 at the end of
each month at a 5% monthly interest for 5 years with ₱100,000 as downpayment. Is it better to pay a shop ₱310,736.58 straight
in cash or the dealer?
Given: Formula: Solution:
R=4999 0.05 1
i
m J= =
m J= 12 240
i =5 % m
n=5(12)
m=12 n=m(t)

( )
60
t=5 years n 1
(1+ J ) −1 (1+ ) −1
F=R( ) 240
F=Unknown J F=4 , 9 99 + 100,000
1
240
F=4,999 ( 68.00608284 ) +100,000
F=339,962.4081+100,000

It is better to pay for the laptop straight in cash.

3) Raymond wants to save ₱1,110.00 for a battle pass in a game. His mom agreed to give him some sort of interest for his
money. He gave his mother ₱500.00 and got a 20% simple monthly interest rate. How long will it take for him to save for the
 Given: Formula: Solution:
p=500
F= prt 1,100=500 ( 0.20(12) ) ( t )
F=1,100
1,100
r =20 % t=
500(0.20(12))
m= prt
11
t=
battle pass? t=Unknown 12

It will take 11 months for his money to grow enough to buy the battle pass.
4) Rmond wants to buy his parents’ printer for ₱9,500.00. He already has ₱9,000.00 pesos in the bank that offers a 5% interest
compounded annually. Until how long does he have to wait for his bank account to have enough to pay for the printer?

Given: Formula: Solution:

F=9,500 F=P(1+r )
t
9,500=9,000(1+ 0.05)
t

r =5 % 9,500=9,000(1.05)
P=9,000 t=1.10815 …
t=Unknown

He will need to wait about 1.11 years to have enough money to buy the printer.

5) Mr. Mesinas wants to save money at the end of each month, for a whole year. He wanted to buy a microphone worth
₱1,500.00 His mom said that she would give her son a 100% interest rate compounded monthly . Will he have enough money at
the end of the year to buy the item if he gives her ₱700.00 today?
Given: Formula: Solution:
F=Unknown F=P(1+r )
t
1
12(1)
F=700(1+ )
r =100 % 12
t=12 F=700(2.61303529)
p=700 F=1829.124703

Yes, he will have more than enough money to buy the item at the end of the year, having ₱1829.12.