SHS

General
Mathematics
Quarter 2 – Module 2c:
Problem Solving Involving
Compound Interest
General Mathematics – SHS
Quarter 2 – Module 2c: Problem Solving Involving Compound Interest

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Regional Director: Gilbert T. Sadsad

Assistant Regional Director: Jessie L. Amin

Development Team of the Module

Writer: Dolores Sapinoso Rull
Editor: Desiree R. Euste
Reviewers: Sarah Christine P. Godoy
Simeon D. Brillantes
Illustrator: Dolores Sapinoso Rull
Layout Artist: Jhomar B. Jaravata
Cover Art: Jed Adra

ii
PROBLEM SOLVING INVOLVING COMPOUND INTEREST

INTRODUCTION

An initial amount of money, which is called the principal amount can be

invested at a certain interest rate that is earned at the end of a given term. If the
interest rate is compounded, the interest earned at the end of the period is added to
the principal, and this new amount will earn interest in the next period. The same
process is repeated for each succeeding period. Meaning, the interest previously
earned will also earn interest in the next period.

In this module, you will learn how to solve some problems in real world
involving compound interest.

OBJECTIVE

At the end of this module, you will be able to solve problems involving
compound interest. (M11GM-IIb-2)

VOCABULARY LIST

In exploring and performing the activities in this module, you will encounter
the following terms and concepts that will guide you on how to use them
appropriately in context.

Compound Interest (Ic) – interest that is computed on the principal and and also to
the accumulated past interests.
Principal (P) – amount of money borrowed or invested on the origin date.
Rate (r) – annual rate, usually in percent, charged by the lender, or rate of increase
of the investment.
Time or term(t) – amount of time in years the money is borrowed or invested; length
of time between the origin and maturity dates.
Maturity value/Future Value – amount after t years, that the lender receives from
the borrower on the maturity date.
Conversion or interest period – time between successive conversion of interest
Frequency of conversion(m) – number of conversion periods in one year
Nominal rate (i) – annual rate of interest
Periodic rate (j) – the ratio of annual interest rate and the frequency of conversion

PhP

1
 PRE-TEST

Directions: This test will evaluate your knowledge and skills prior to starting this module.
Read and analyze each item carefully then select the correct answer from the
given options. If the question has no answer from the given choices, write E.
(You may use scientific calculator if necessary.)

For items 1-2, use the problem below.

Teacher Gloria invested PhP 30 000.00 in a bank that offers 4%

interest rate compounded semi-annually.

.
1. What is teachers Gloria’s total investment in 3 years?
a. PhP 33 745.92 c. PhP 33 874. 87
b. PhP 33 754.92 d. PhP33 784.87
2. How much interest will she earn if she will invest the money for 3 years?
a. PhP 3 745.92 c. PhP 3 874. 87
b. PhP 3 754.92 d. PhP 3 784.87

3. A business tycoon aims to have his investment grow to Php 2 000 000.00 in
4 years. How much should be his initial investments in an account that pays 6%
interest rate compounded monthly?
a. PhP 1 574 196.82 c. PhP 1 584 187.33
b. PhP 1 578 060.82 d. PhP 1 973 554.08

4. Lawrence invested PhP 150 000.00 in a corporation at 4% compounded

quarterly. How long should he invest his money if he wants to accumulate Php
250 000.00?
a. 12 years c. 13 years
b. 12.5 years d. 13.5 years

5. A loan of PhP 40 000.00 had accumulated to PhP 100 000 in 10 years. At what
nominal rate compounded semi-annually has been applied for the loan?
a. 4.6% c. 9.3 %
b. 4.69% d. 9.38%

- End of Pre-Test -

2
 LEARNING ACTIVITIES

This module will help you learn how to solve problems involving compound
interest specifically problems on compounding more than once a year.

In here, sample problems with step by step solutions on finding compound

interest, when compound interest is computed more than once a year, its maturity
value, present value, rate of interest and time are presented.

The following definitions or concepts and formulas will help you compute
compound interest (compounded more than once a year), maturity/future value,
present value, rate of interest and time or term.

Definition 1:

Compound Interest (Is)

– interest that is computed on the principal and also on the
accumulated past interests.

It can be computed using the formula:

Ic = F - P

where,
Ic = compound interest
P =Principal
F = Future value/maturity value

Definition 2:

Maturity value/Future Value (Compounding m times a year0

– amount after t years that the lender receives from the borrower
on the maturity date.

Formula for finding Maturity Value F in interest compounded more than once a
year:

𝐢 𝐦𝐭 𝐢 𝒏
F = P + Ic or 𝐅 = 𝐏 𝟏 + or 𝐅 = 𝐏 𝟏 +
𝐦 𝐦

where,
F = future value/maturity value
Ic = compound interest
P = Principal
i = nominal rate or annual interest rate
m = frequency of conversion
t = time in years
n = mt

3
Definition 3:

Principal/present value (P) at Compound Interest

– amount of money borrowed or invested on the origin date.

Formula for finding present value P in interest compounded more than

once a year:
𝐅 𝐅
P= 𝑖 mt or P= 𝑖 n
𝟏+ 𝟏+
𝑚 𝑚

where,
F = future value/maturity value
P = Principal
i = nominal rate or annual interest rate
m = frequency of conversion
t = time in years
n = mt

Definition 4:

Number of conversion periods (n)

– refers to how often the interest is calculated over the term of the
loan or investment.

It can be computed using the formula:

𝐅
𝐥𝐨𝐠
𝐏
n = mt or n=
𝐥𝐨𝐠 (𝟏+𝐣)

where,
F = future value/maturity value
P = Present value
m = frequency of conversion
t = time in years
i = nominal rate or annual interest rate
𝑖
j = periodic rate or j = 𝑚
n = total number of conversion periods

Note: The formula was derived from the formula for maturity value F :
𝐢 𝒏
𝐅 = 𝐏 𝟏 +
𝐦

4
 Definition 5:

Periodic Interest (j) – the interest for a specific period.

It can be computed using the formula:

𝐢 𝐧 𝐅
j= or j= − 𝟏
𝒎 𝐏

where,
F = future value/maturity value
P = Present value
j = periodic rate
i = nominal rate or annual interest rate
m = frequency of conversion
t = time in years
n = total number of conversion periods or n = mt

Note: The formula was derived from the formula for maturity value F :
𝐢 𝒏
𝐅 = 𝐏 𝟏 +
𝐦

To solve problems involving compound interest, where compound interest is

computed more than once a year, you must be guided with these steps:

Steps on Solving Problems Involving Compound Interest

1. What is/are given? (Identify the given data in the problem.)

2. What is asked? (Determine what the problem requires you to do.)
3. What is the appropriate formula to be used? (Determine the formula to be used.)
4. What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)
5. What is your final answer to the problem? (Determine the final answer to the
problem.)

Try to learn on how to solve problems involving compound interest, where

compound interest is computed more than once a year, from the succeeding examples.

Sample Problems:

Example 1:
Miss Jane Alvinia invested PhP 150 000.00 in a Cooperative that offers 3%
interest rate compounded semi-annually. How much interest will she earn if she will
invest the money for 2 years?

5
Follow the steps mentioned above to solve the problems:

Step 1: What is/are given? (Identify the given data in the problem.)

P = PhP 150 000.00

i = 3% or 0.03
m =2
t = 2 years
n = 2(2) = 4

Step 2: What is asked? (Determine what the problem requires you to do.)

How much interest will she earn if she will invest the money for 2 years?
or What is the compound interest?

Step 3: What is the appropriate formula to be used? (Determine the formula to be used.)

Ic = F - P

Step 4: What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)

a. Solve for the future value F first, since the formula in finding the compound
interest requires the future value F and it was not given in the problem.
𝐢 𝐦𝐭
𝐅 = 𝐏 𝟏 +
𝐦
𝟎.𝟎𝟑 2(2)
= 150 000 ( 1+ ) substitute the given
𝟐

= 150 000 (1 + 0.015)4 simplify

= 150 000 (1.015)4 simplify

= 159 204.53 simplify

b. Find the compound interest Ic

Ic = F–P

= 159 204.53- 150 000.00

= 9 204.53

Step 5: What is your final answer to the problem? (Determine the final answer to the
problem.)

Therefore, Miss Jane Alvinia will earn an interest of PhP 9 204.53.

6
 Example 2:
Miss Johanna borrowed PhP 40 000.00 at 7.5% compounded quarterly at a
lending institution. How much interest will be charged if she applies for a 3-year loan?

Step 1: What is/are given? (Identify the given data in the problem.)

P = PhP 40 000.00
i = 7.5% or 0.075
m=4
t = 3 years
n = 4(3)=12

Step 2: What is asked? (Determine what the problem requires you to do.)

How much interest will be charge if she applies for a 3-year loan?
or What is the compound interest?

Step 3: What is the appropriate formula to be used? (Determine the formula to be used.)

Ic = F - P

Step 4: What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)

a. Solve for the future value F first, since the formula in finding the compound
interest requires the future value F and it was not given in the problem.
𝐢 𝐦𝐭
𝐅= 𝐏 𝟏 +
𝐦
𝟎.𝟎𝟕𝟓 4(3)
= 40 000(1 + ) substitute the given
𝟒

= 40 000 (1+ 0.01875)12 simplify

= 40 000 (1.01875)12 simplify

= 49 988.66 simplify

a. Find the compound interest Ic

Ic = F–P

= 49 988.66 – 40 000.00

= 9 988.66

Step 5: What is your final answer to the problem? (Determine the final answer to the
problem.)

Therefore, Miss Johanna shall pay an interest of PhP 9 988.66.

7
 Example 3:
A teacher borrowed PhP 100 000.00 at 6% compounded monthly at a bank.
How much will she pay after 3 years?

Step 1: What is/are given? (Identify the given data in the problem.)

P = PhP 100 000.00

i = 6% or 0.06
m = 12
t = 3 years
n = 12(3) = 36

Step 2: What is asked? (Determine what the problem requires you to do.)

How much will she pay after 3 years?

or What is the maturity/future value F?

Step 3: What is the appropriate formula to be used? (Determine the formula to be used.)

𝐢 𝐦𝐭
𝐅 = 𝐏 𝟏 +
𝐦

Step 4: What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)

Substitute the given to the formula:

𝐢 𝐦𝐭
𝐅 = 𝐏 𝟏 + 𝐦
𝟎.𝟎𝟔 12(3)
= 100 000 (1 + )
𝟏𝟐

= 100 000 (1 + 𝟎. 𝟎𝟎𝟓 )36

= 100 000 (1.005 )36

= 119, 668.05

Step 5: What is your final answer to the problem? (Determine the final answer to the
problem.)

Therefore, the teacher shall pay a total amount of PhP 119 688.05.

8
 Example 4:
JV lends to his friend PhP 400 000.00 at 4% compounded daily. How much did
his friend owe him after 4 years?

Step 1: What is/are given? (Identify the given data in the problem.)

P = PhP 400 000.00

i = 4% or 0.04
m = 365.25
t = 4 years
n = 365(4) = 1460

Step 2: What is asked? (Determine what the problem requires you to do.)

How much did his friend owe him after 4 years?

or What is the maturity/future value F?

Step 3: What is the appropriate formula to be used? (Determine the formula to be used.)
𝐢 𝐦𝐭
𝐅 = 𝐏 𝟏 + 𝐦

Step 4: What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)
Substitute the given to the formula:
𝐢 𝐦𝐭
𝐅 = 𝐏 𝟏 +
𝐦
𝟎.𝟎𝟒 365(4)
= 400 000 (1 + 𝟑𝟔𝟓
)

= 400 000 (1 + 𝟎. 𝟎𝟎𝟎𝟏𝟎𝟗𝟓𝟖𝟗 )1460

= 400 000 (1.000109589 )1460

= 469 400.23

Step 5: What is your final answer to the problem? (Determine the final answer to the
problem.)

Therefore, JV’s friend owe him PhP 469 400.23.

Example 5:
A businessman aims to have his savings grow to Php 1 000 000.00 in 5 years.
How much should be his initial deposits in an account that pays 6% interest rate
compounded monthly?

Step 1: What is/are given? (Identify the given data in the problem.)

F = PhP 1 000 000.00

i = 6% of 0.06
m = 12
t = 5 years
n = 12(5) = 60

9
Step 2: What is asked? (Determine what the problem requires you to do.)

How much should be his initial deposit in an account that pays 6%

interest rate compounded monthly? or What is the present value P?

Step 3: What is the appropriate formula to be used? (Determine the formula to be used.)

𝐅 𝐅
P= 𝑖 mt or P= 𝑖 n
𝟏+ 𝟏+
𝑚 𝑚

Step 4: What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)
Substitute the given to the formula:
𝐅
P= 𝑖 mt
𝟏+
𝑚
𝟏 𝟎𝟎𝟎 𝟎𝟎𝟎
P= 0.06 12(5)
𝟏+
12

𝟏 𝟎𝟎𝟎 𝟎𝟎𝟎
= (𝟏+ 60
0.005)

𝟏 𝟎𝟎𝟎 𝟎𝟎𝟎
= (𝟏.𝟎𝟎𝟓)
60

= 741 372.20

Step 5: What is your final answer to the problem? (Determine the final answer to the
problem.)

Therefore, the businessman should have an initial deposit of

PhP 741 372.20

Example 6:
How much do you need to invest today if you plan to accumulate a total amount of
PhP 200,000.00 on a savings account with 2.5% interest rate compounded semi-annually
for 10 years?

Step 1: What is/are given? (Identify the given data in the problem.)

F = PhP 200 000.00

i = 2.5% or 0.025
m = 2
t = 10 years
n = 2(10) = 20

Step 2: What is asked? (Determine what the problem requires you to do.)

What is the principal amount or present value P?

10
Step 3: What is the appropriate formula to be used? (Determine the formula to be used.)

𝐅 𝐅
P= 𝑖 mt or P= 𝑖 n
𝟏+ 𝟏+
𝑚 𝑚

Step 4: What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)
Substitute the given to the formula:
𝐅
P= 𝑖 mt
𝟏+
𝑚
𝟐𝟎𝟎 𝟎𝟎𝟎
P= 0.025 2(10)
𝟏+
2

𝟐𝟎𝟎 𝟎𝟎𝟎
= (𝟏+ 20
0.0125)

𝟐𝟎𝟎 𝟎𝟎𝟎
= (𝟏.𝟎𝟏𝟐𝟓)20

= 156 001.71

Step 5: What is your final answer to the problem? (Determine the final answer to the
problem.)

Therefore, you need to invest PhP 156 001.71.

Example 7:
Alisha invested PhP 60 000.00 in a bank savings account at 4% compound
semiannually. How long should she let the investment stay if she wants to accumulate
Php 80 000.00?

Step 1: What is/are given? (Identify the given data in the problem.)

P = PhP 60 000.00
F = PhP 80 000.00
i = 4% or 0.04
m = 2
𝐢 𝟎.𝟎𝟒
j = 𝐦 = 𝟐 = 0.02

Step 2: What is asked? (Determine what the problem requires you to do.)

How long should she let the investment stay if she wants to accumulate
Php 80 000.00?

11
Step 3: What is the appropriate formula to be used? (Determine the formula to be used.)

𝐅
𝐥𝐨𝐠
𝐏
n=
𝐥𝐨𝐠 (𝟏+𝐣)

Step 4: What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)
a. Substitute the given to the formula:
𝐅
𝐥𝐨𝐠
𝐏
n =
𝐥𝐨𝐠 (𝟏+𝐣)
𝟖𝟎 𝟎𝟎𝟎
𝐥𝐨𝐠
𝟔𝟎 𝟎𝟎𝟎
=
𝐥𝐨𝐠 (𝟏+𝟎.𝟎𝟐)
𝟒
𝐥𝐨𝐠
𝟑
=
𝐥𝐨𝐠 (𝟏.𝟎𝟐)
= 14.53

Since interest is earned only at the end of the period,

Then, n = 15 periods or 15 semi annuals.

𝒏
b. Since n = mt, then t =
𝒎
Substitute the value,
𝟏𝟓
t=
𝟐
t = 7.5 years

Step 5: What is your final answer to the problem? (Determine the final answer to the
problem.)

Therefore, it will take 7.5 years to accumulate PHP 80 000.00.

Example 8:
Jannia’s PhP 100 000.00 investment in a bank earned PhP 30 000.00 at 6%
compounded quarterly. How long did she invest the money?

Step 1: What is/are given? (Identify the given data in the problem.)

P = PhP 100 000.00

F = PhP 100 000.00 + PhP 30 000.00 = PhP 130 000.00
i = 6% or 0.06
m = 4
𝒊 𝟎.𝟎𝟔
j = 𝒎 = 𝟒 = 0.015

Step 2: What is asked? (Determine what the problem requires you to do.)

How long did she invest the money?

12
Step 3: What is the appropriate formula to be used? (Determine the formula to be used.)

𝐅
𝐥𝐨𝐠
𝐏
n= by definition 4
𝐥𝐨𝐠 (𝟏+𝐣)

Step 4: What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)
a. Substitute the given to the formula:
𝐅
𝐥𝐨𝐠
𝐏
n =
𝐥𝐨𝐠 (𝟏+𝐣)
𝟏𝟑𝟎 𝟎𝟎𝟎
𝐥𝐨𝐠
𝟏𝟎𝟎 𝟎𝟎𝟎
=
𝐥𝐨𝐠 (𝟏+𝟎.𝟎𝟏𝟓)
𝟏𝟑
𝐥𝐨𝐠
𝟏𝟎
=
𝐥𝐨𝐠 (𝟏.𝟎𝟏𝟓)
= 17.62

Since interest is earned only at the end of the period,

Then, n = 18 periods or 18 quarters.

𝒏
b. Since n = mt, then t =
𝒎
Substitute the value,
𝟏𝟖
t=
𝟒
t = 4.5 years

Step 5: What is your final answer to the problem? (Determine the final answer to the
problem.)
Therefore, Jannia invested her money for 4.5 years.

Example 9:
An investment of PhP 20 000.00 had accumulated to PhP 30 000 in 5 years.
What nominal rate compounded semi-annually was applied for the investment?

Step 1: What is/are given? (Identify the given data in the problem.)

P = PhP 20 000.00
F = PhP 30 000.00
t = 5 years
m = 2
n = mt = 2(5) =10

Step 2: What is asked? (Determine what the problem requires you to do.)

What nominal rate (i) compounded semi-annually was applied for the
investment?

13
Step 3: What is the appropriate formula to be used? (Determine the formula to be used.)

𝐧 𝐅
i = mj and j= − 𝟏
𝐏

Step 4: What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)
a. To find the nominal rate (i), you must find periodic rate (j) first:
𝟏𝟎 𝐅
j=
𝐏
− 𝟏
𝟏𝟎 𝟑𝟎 𝟎𝟎𝟎
= − 𝟏
𝟐𝟎 𝟎𝟎𝟎
𝟏𝟎 𝟑
= − 𝟏
𝟐
= 0.0414

b. Since i = mj, then

i = 2 (0.0414)
= 0.0828
= 8.28%

Step 5: What is your final answer to the problem? (Determine the final answer to the
problem.)

Therefore, the investment was invested at 8.28% compounded semi-

annually.

Example 10:
Janine invested PhP 50 000.00 in a savings bank. At what interest rate
compounded quarterly will make her money double itself in 10 years?

Step 1: What is/are given? (Identify the given data in the problem.)

P = PhP 50 000.00
F = 2 (50 000.00 ) = 100 000.00 since the money is doubled
t = 10 years
m = 4
n = mt = 4(10) = 40

Step 2: What is asked? (Determine what the problem requires you to do.)

At what interest rate compounded quarterly will make her money

double itself in 10 years?

14
Step 3: What is the appropriate formula to be used? (Determine the formula to be used.)

𝐧 𝐅
i = mj and j= 𝐏
− 𝟏

Step 4: What is/are the solution/s to the problem? (Determine the solution/s of the given
problem.)
a. To find the nominal rate (i), you must find periodic rate (j) first:
𝟏𝟎 𝐅
j=
𝐏
− 𝟏
𝟒𝟎 𝟏𝟎𝟎 𝟎𝟎𝟎
= 𝟓𝟎 𝟎𝟎𝟎
− 𝟏
𝟒𝟎
= √𝟐 − 𝟏
= 1.01745 - 1
= 0.01748
b. Since i = mj, then

i = 4 (0.01748)
= 0.0699
= 6.99%

Step 5: What is your final answer to the problem? (Determine the final answer to the
problem.)
Therefore, in 10 years, Janine’s investment will double at 6.99%
interest rate compounded quarterly.

Let us test your understanding!

Practice Task 1

Solve the following problems. Write your answer on your paper.

1. What is the maturity value of PhP 300,000.00 investment at 5% interest compounded

semi-annually in 4 years?

2. You borrowed PhP150,000.00 from someone and promise to pay an interest of 5%

compounded monthly. How much will you pay at the end of 3 years?

3. How long will it take PhP 5 000.0 to earn PhP 1 000.00 if the interest is 8%
compounded quarterly?

4. At what nominal rate compounded monthly will PhP 35 000.00 accumulate

PhP 70 000.00 in 5 years?

5. How much will you invest if you want to accumulate PhP 100 000.00 at 7.5% interest
compounded semi-annually for 6 years.

15
 Practice Task 2

Solve the following problems. Show your complete solutions.

For items 1 – 2:

If your father invested his PhP 25,000 in a bank for 3

years at 2% compounded quarterly.

1. What is the maturity value?

2. What is the interest?

3. How much should you invest in a fund earning 6% compounded monthly if you need
PhP 75,000 in 1 year and 3 months?

4. How long will it take the PhP 200 000.00 loan to accumulate to PhP 300 000.00 at
7.5% compounded semi-annually?

Practice Task 3

Solve the following problems. Show your complete solutions.

1. A salesman borrowed PhP 200 000.00 for his capital in his buy and sell business. If
the loan is at 5% interest compounded semi-annually, how much will he pay after 3
years?

2. At what interest rate quarterly will an investment double itselft after 8 years?

3. How long would your PhP 50 000.00 investment be tripled if you invest it at 6%
interest rate compounded monthly?

- End of Practice Tasks -

16
 POST-TEST

Directions: This test will evaluate your knowledge and skills prior to starting this module.
Read and analyze each item carefully then select the correct answer from the
given options. If the question has no answer from the given choices, write E.
(You may use scientific calculator if necessary.)

For items 1-2, use the problem below.

Mr. M invested PhP 50 000.00 in a bank that offers 5% interest rate

compounded quarterly.

.
1. How much interest will she earn if she will invest the money for 4 years?
a. PhP 10 994.48 c. PhP 10 294. 48
b. PhP 10 775.31 d. PhP 10 275.31

2. What will be his total investment in 4 years?

a. PhP 60 994.48 c. PhP 60 294. 48
b. PhP 60 775.31 d. PhP 60 275.31

3. A vegetable vendor aims to have his savings grow to Php 50 000.00 in 2 years.
How much should be his initial investments in an account that pays 10% interest
rate compounded quarterly?
a. PhP 40 000.00 c. PhP 42 000.00
b. PhP 41 037.33 d. PhP 45 037.33

4. Your mother gave you PhP 15 000.00 and you deposited it in an account that
offers 6% compound semi-annually. How long should you invest your money if
you want to accumulate Php 60 000.00?
a. 25 years c. 12 years
b. 23 ½ years d. 20 ½ years

5. Mr. EJ’s loan of PhP 60 000.00 had accumulated to PhP 90 000.00 in 6 years. At
what nominal rate compounded quarterly had been applied for the loan?
a. 6% c. 8 %
b. 6.82% d. 9.82%

- End of Post-Test -

17
 ASSIGNMENT

A. Solve the problem.

How long will your investment will be four times as its principal amount
if it will be invested at 12% interest rate compounded monthly?

B. Write a short reflection relating the statement, “As the frequency of conversion
periods in a year increases, the larger the compound interest, and so, is the
compound amount.” in real life.

References:

Bacani, J.B. and Soriano, J.M., (2017) General Mathematics for Grade 11, 151 Quezon City:
Ephisians Publishing Inc.
DepEd (2016). General Mathematics Learners Material First Edition. Department of
Education.
Orence, O.A. (2016). RBS General Mathematics First Edition, Sampaloc, Manila: Rex
Book Store, Inc.
Reyes A., and Sulit, R. (2016), General Mathematics, Jimcyville Publications

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 Answer Key

Pre-Test
1. d
2. d
3. a
4. c
5. d

Practice Task 1
1. F = PhP 365 520.87
2. I = PhP 24 220.83
3. n =10 quarters or t = 2 ½ years
4. i = 13.94%
5. P = PhP 64 289.90

Practice Task 2
1. F = PhP 26 541.95
2. I = PhP 1 541.95
3. P = PhP 69 593.77
4. n = 12 semi-annuals or t = 6 years

Practice Task 3
1. F = PhP 231 938.68
2. i = 8.76%
3. n = 221 months or t = 18 years and 5 months

Post-Test
1. a
2. a
3. b
4. b
5. b

Assignment
A. n = 140 months or t = 11 years and 8 months
B. (Individual reflection)

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