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2nd Summ. Gen. Math

This document contains a math test on annuities with multiple choice and solving questions. The test covers topics like simple vs general annuities, compound interest formulas, and solving word problems involving principal amounts, interest rates, time periods, and future values.

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catherine saldevia
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39 views

2nd Summ. Gen. Math

This document contains a math test on annuities with multiple choice and solving questions. The test covers topics like simple vs general annuities, compound interest formulas, and solving word problems involving principal amounts, interest rates, time periods, and future values.

Uploaded by

catherine saldevia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Republic of the Philippines

Department of Education
REGION VI-WESTERNVISAYAS
SCHOOLS DIVISION OF ILOILO
DOMINADOR ABANG MEMORIAL NATIONAL HIGH SCHOOL
GARITA, SAN ENRIQUE, ILOILO

2nd Summative test ( Quarter 2 )


General Mathematics 11

Name: ____________________________________________ Score:___________


Grade & Section: ________________________ Date:______________

I. Directions: Determine if the given situations represent simple annuity or general annuity.

___________1. Monthly instalment payment of a car with an interest rate that is compounded annually.
___________2. Annual payments of ₱100,000.00 with interest rate of 10% compounded annually for 5 years.
___________3. Payments are made at the end of each month for a loan that charges 1.05% interest compounded
quarterly.
___________4. A deposit of ₱10,000.00 was made at the end of every three months to an account that earns 5%
compounded quarterly.
___________5. Paying a debt semi-annually when the interest is compounded monthly.
___________6. Annual payment of the loan ₱500,000.00 for 6 years with an interest rate of 7 % compounded annually.
___________7. Monthly instalment of an appliance cash prize of ₱20,000.00 for 6 months with an interest rate of 6%
compounded monthly.
___________8. A deposit of ₱120.00 was made every week to an account that earns 1.5% compounded weekly.
___________9. Instalment payment for an appliance at the end of each month with interest compounded monthly.
___________10. Instalment payment for an appliance at the end of each month with interest compounded annually.

II. Multiple Choice. Read carefully and choose the correct answer. Write your answer on the space provided.

_______1. An annuity where payment interval is the same as the interest period is a/an ___________.
a. simple annuity b. general annuity c. uncertain annuity d. annuity certain
_______2. An annuity in which payments begin and end at definite time is a/an ____.
a. simple annuity c. uncertain annuity
b. general annuity d. annuity certain
_______3. A/An _____________ is an annuity in which the period of payment is made at the beginning of each payment
interval and the compounding period is equal or the same as the payment interval.
a. simple ordinary annuity c. general annuity du
b. general ordinary annuity d. simple annuity due
_______4. A/An ____________ is a simple annuity in which the period of payment is made at the end of each payment
interval.
a. simple ordinary annuity c. general annuity due
b. general ordinary annuity d. simple annuity due
_______5. What is the total amount to be received or paid for a certain obligation?
a. present value b. simple interest c. future value d. compound interest
_______6. . Which among the following is the formula to obtain the simple interest?
a. F = mb b. Is = Prt c. Is = P(1 + rt) d. Ic = P(1 + rt)
_______7. This is the two annual rates with different conversion periods that will earn the same maturity value for the
same time/term.
a. Equivalent rates b. nominal rates c. effective rates d. interest rate
_______8. How many conversion period are there in compounded daily?
a. 12 b. 365 c. 2 d. 1
_______9. This is the number of conversion periods in one year.
a. Interest period b. nominal rate c. Frequency of conversion d. effective rates
_______10. A sequence of payments made at equal intervals or periods of time.
a. Annuity b. principal value c. future value d. maturity value
For number 11-15, consider the situation below

Tenten deposited P25,000 in a bank which gives 5% compounded quarterly and let it stay there for 5 years. Find the
muturity value and interest in compounding m times a year.

_______11. What is ask in the given problem?


a. Maturity b. maturity and interest c. present value d. nominal rate
_______12. What is the principal value?
a. P25,000 b. 5% c. 4 d. 5 years
_______13. What is the Total number of conversion periods (n)?
a. 20 b. 4 c. 5 d. 9
_______14. What is the nominal rate?
a. 5 years b. 5% c. 4 d. 20
_______15. What is the Future value and interest in the problem? Solve the problem above. ( 5 Points )
a. P32, 050.91/ P3,000 b. P32, 000/ 7000 c. P32, 050.93/P7050.93 d. P32,050.94/P7050.94

III. Solving: Solve the following Problems

A. How much should you set aside and invest in a fund earning 9% compounded quarterly if you want to accumulate
P200,000 in 3 years?

B. Jun invested an amount of P100,000, where he obtained an interest of P16,000 at the end of 2.5 years. At what
nominal rate compounded semi-annually was it invested?

Prepared by:

Catherine D. Saldevia
Subject Teacher

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