JESUS DELA PEÑA NATIONAL HIGH SCHOOL

Marikina City

MATHEMATICS 11
Quarterly Examination

I. MULTIPLE CHOICE. Read each statement carefully and choose the letter of the correct answer.
(20 points)

1. This is determined by multiplying the daily interest rate by the principal and by the number of
days that elapse between payments.
A. Simple Interest C. Compound Interest
B. Annuity Due D. Annuity Ordinary

2. Is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on
interest.
A. Simple Interest C. Compound Interest
B. Annuity Due D. Annuity Ordinary

3. A series of equal payments at regular intervals is called _______.

A. Interest C. Annuity
B. Principal D. Present Value

For numbers 4-6, refer to the statement below:

Payments of P5000.00 at the end of every three months for five years with the first payment
made three years from now.

4. How long is the deferral period?

A. 2 B. 3 years C. 4 years D. 5 years

5. How long is the annuity period?

A. 3 months B. 2 years C. 4 years D. 5 years

6. What is the total number of payments?

A. 3 B. 12 C 15 D. 20
7. Lisa has P6450.00 in her savings account. If the bank pays 3.7% interest per year on savings,
how much interest does she earn in one year?
A. P2386.00 B. P258.75 C. P238.65 D. P228.00

8. How much must Harry deposit be at 12.5% interest for 120 days in order to earn P600.00
interest?
A. P14 400.00 B. P14 600.00 C. P 7200.00 D. P 4800.00

9. Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise
indicated where in R = P900.00, i = 7% interest compounded semiannually for 10 years.
A. P 23 637.33 B. P 23 721.46 C. P 25 451.71 D. P51, 166.00

10. Find the compound interest earned by the deposit of P710.00 at 9% compounded annually for 8
years.
A. P447.30 B. P587.91 C. 511.20 D. P704.72
II. PROBLEM SOLVING. Read and analyze each problem. Identify what is given and show your
complete solution then box your final answer.

1. How long does it take a principal of P 25 000 at a simple interest rate of 5% to become
P30 000? ( 3 points )

2. Determine the simple interest rate applied to a principal over 20 years if the total interest paid
equals the borrowed principal. ( 3 points )

3. Kelly plans to put her graduation money into an account and leave it there for four years while
she goes to college. If the graduation money that she will deposit in an account is P 750.00 at
4.25% interest compounded semi-annually, how much will be in Kelly’s account? ( 5 points )

4. Calculate the present value on January 1, 2011 of an annuity of P500.00 paid at the end of each
month of the calendar year 2011. The annual interest rate is 12%. ( 6 points )

5. Assume a portfolio manager decides to invest P 125 000.00 per year for the next five years into
an investment that he expects to compound at 8% per year. What is the future value of this
payment? ( 6 points )

6. Calculate the amount of money an investment banker would have to deposit in an investment
fund that will provide him P1500.00 at the beginning of each month for 11 years. He receives his
first payment 2 years from now and the interest rate is 5% compounded semi-annually? ( 7
points )

III. BONUS POINTS. ( Optional - 5 points )

In a dark room, you have one match left. Which do you light first, the
newspaper, the candle or the lamp?

“If people do not believe that mathematics is simple,

it is only because they do not realize how complicated life is.”
- John Von Neumann

/mfs/2017