1) What is the simple interest (Is) formula? a) Is = Prt b) Is = Pr/t c) Is = P/rt 2) What is the maturity value formula? a) F = P (1 + rt) b) F = P (1 + r)^t c) F = P (1 + r) 3) Which of the following formula can be used to solve for the compound interest? a) F = P(1 + r/n) ^t b) F = P(1 + r/n) ^nt c) F = P (1 + r)^t 4) You deposited ₱1,200.00 into a savings account to be able to buy a high-end earphone. The account compounds interest monthly at an annual interest rate of 0.5%. What is the final amount after 5 years? a) ₱30.37 b) ₱1,230.37 c) ₱1,200.37 5) Gary deposits ₱500.00 in a savings account that offers an annual interest rate of 5%. How much interest will he earn after 10 years assuming that the interest is compounded? a) ₱1,214.45 b) ₱814.45 c) ₱314.45

COMPUTING SIMPLE AND COMPOUND INTEREST - Quiz

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