... payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly.

1. What is the periodic rate?

A. 1% B. 12% C. 0.01% D. 2%

2. How many payments must be made?

A. 12 B. 24 C. 6 D. 48

3. What is the equivalent cash price of the car?

A. P210,945.35 B. P340,091.59 C. P 360,945.35 D. P490,091.59

For numbers 4 to 5:

Maria wants to have P750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly.

4. Which of the following refers to the monthly rate? A. 1.25% B. 15% C. 12% D. 0.0125%

5. Which of the following refers to the total number of deposits?

A. 12 B. 60 C. 48 D. 5

6. Find the actual time from February 1, 2017 to July 23, 2017.

A. 170 days B. 171 days C. 172 days D. 173 days

7. Eleven months after borrowing money, Dorah pays an interest of P2,800. How much did she borrow if the simple interest rate was 11-% ?

A. P290.89 B. P291.86 C. P26,951.87 D. P26,862.12

For numbers 3 to 10:

Lukas Center acquired a new Laser Machine worth P58000000. The center plans to pay 35% advance payment and the balance by quarterly payments for 7 years. Money is worth 9% converted quarterly.

8. How much is the balance that must be amortized every three months?

A. P1 45,000.00 B. P20300000 C. P37100000 D. P43500000

9. How many quarterly payments must be made to settle the obligation?

A. 7 B. 28 C. 35 D. 21

10. Which of the following refers to the quarterly payments?

A. P9.81 1.52 B. P21 ,108.48 C. P1 1,320.98 D. P1829402

l I. How long will it take for \$7000 to double at the rate at 8%?

A. 15 years B. 21 years C. 9 years D. 12 years.

12. An initial investment of \$480 earns interest for 9' years in an account that earns 13% interest. compounded quarterly. ﬁnd the amount of money in the account at the end of the 7 year period.

A. \$1 138.34 B. \$1 129.25 C. \$1 175.34 D. \$695340

13. A savings band currently worth \$7600 collects 5.5% annual simple interest each year. It the bond was purchased seven years ago, how much was it bought for?

A. \$1 1,780.00 8. \$5487.36 C. \$4903.23 D. \$2673.21

14. Suppose Kay inherits \$250,000, which she invests today at a rate of return of 9 percent compounded annually. Who much will Kay's investment be worth in 25 years?

A. 56.250.000.00 8. \$1,929,687.00 C. \$2,155,770.17 D. \$21 ,175,224.06

15. What amount should be paid on the maturity date to settle a one-hunded-twenty day loan dated March 19, 2013, if the present value is P15,600 at 13 § '16 simple interest?

A. P690136 8. P1 6,290.86 C. P6,281.39 D. P681.39