StudySoda.
Business Mathematics and Finance — Quiz 2 (FDNBUSM)

FDNBUSM 01 · Simple Interest and Discount

Open Practice Lab
About

Simple Interest and Discount. Prerequisite consolidation for the annuities assessment. Original worked cases; exact exam date unconfirmed.

Jade Laurence EmpleoPublic8 questionsBusiness Mathematics and Finance — Quiz 2 (FDNBUSM)Updated
Editorial policy
Practice Lab
1concept
7calculations
Conventions

Independent original practice cases. Amounts are Philippine pesos (PHP); enter numeric answers without currency symbols. Use the stated interest and payment timing. j is a nominal annual rate, i an effective payment-period rate, n the number of payments, and t years. Payment and compounding periods coincide unless stated otherwise. The factors are a(i,n) = [1 − (1 + i)^−n]/i and s(i,n) = [(1 + i)^n − 1]/i; at i = 0 both equal n. Keep full calculator precision and round money to 2 decimals only at the end; numeric money tolerance is PHP 0.02. Percentage answers are in percent, not decimal form. Report percentage and fractional-period/year answers to at least four decimal places unless exact; whole payment-count answers remain integers. Ignore taxes, fees and rounding of actual bank installments unless explicitly given. The Week 8 syllabus lists Annuities and Sinking Funds for Quiz 2; an exact calendar date was not verified.

Questions

01PHP 84,000 earns 11% simple interest for 150 days using a 360-day year. Find the maturity value in PHP.
Slater_Ch16_424-447 Textbook.pdf; Slater_Ch17_448-471 Textbook.pdf; 1-1_SimpleInterest.pdf; 1-2_DiscountInterest.pdf
02A PHP 125,000 face-value note is discounted at 9% for 8 months. Complete its proceeds in PHP.
Simple-discount contract; annual rate
ItemValue
Face value (PHP)125000
Annual discount rate9%
Term (months)8
Proceeds (PHP)?
Slater_Ch16_424-447 Textbook.pdf; Slater_Ch17_448-471 Textbook.pdf; 1-1_SimpleInterest.pdf; 1-2_DiscountInterest.pdf
03What face value delivers PHP 58,200 proceeds on a 90-day 12% bank-discount note using 360 days/year?
Slater_Ch16_424-447 Textbook.pdf; Slater_Ch17_448-471 Textbook.pdf; 1-1_SimpleInterest.pdf; 1-2_DiscountInterest.pdf
04PHP 40,000 produces PHP 2,400 simple interest in 9 months. Enter the annual rate as a percent.
Slater_Ch16_424-447 Textbook.pdf; Slater_Ch17_448-471 Textbook.pdf; 1-1_SimpleInterest.pdf; 1-2_DiscountInterest.pdf
05A PHP 72,000 debt at 10% simple interest receives PHP 20,000 at month 4 under the U.S. Rule. Find unpaid principal just after that payment in PHP.
Slater_Ch16_424-447 Textbook.pdf; Slater_Ch17_448-471 Textbook.pdf; 1-1_SimpleInterest.pdf; 1-2_DiscountInterest.pdf
06A PHP 64,000 note earns 7.5% simple interest for 200 actual days using an exact 365-day year. Find interest in PHP.
Slater_Ch16_424-447 Textbook.pdf; Slater_Ch17_448-471 Textbook.pdf; 1-1_SimpleInterest.pdf; 1-2_DiscountInterest.pdf
07A 180-day PHP 100,000 face-value note is bank-discounted at 10% using 360 days/year. Enter its effective simple annual cost on proceeds as a percent.
Slater_Ch16_424-447 Textbook.pdf; Slater_Ch17_448-471 Textbook.pdf; 1-1_SimpleInterest.pdf; 1-2_DiscountInterest.pdf
08A method pays accrued simple interest first and reduces principal only with the payment remainder. Identify it.
Slater_Ch16_424-447 Textbook.pdf; Slater_Ch17_448-471 Textbook.pdf; 1-1_SimpleInterest.pdf; 1-2_DiscountInterest.pdf
Open Practice LabNext unit