office of the PRINCIPAL 🌮
What does the P stand for in the simple interest formula?
ANSWER: Principal
What is the Simple Interest Formula??
ANSWER: I=Prt
Express 18.06% as a decimal
ANSWER:
18.06/100 = 0.1806
₱1,240 at 8% compounded annually for 2 years
find the Amount expected after 2 years?
ANSWER: ₱1,446.34
Why was 6 afraid of 7?
ANSWER:
Because 7, 8 (ate), 9!
Calculate the Principal for the following information.
I = ₱2000
r = 2.5%
t = 5 yrs
ANSWER: I=Prt
P= I/rt = 2000/(.025*5)
= ₱ 16000
How do you convert months to years?
ANSWER:
Divide by 12 months
Calculate the simple interest for the following information.
P = ₱ 20,000
r = 5%
t = 5 yrs
ANSWER:
Is=Prt=₱ 20,000 * .05 * 5
= ₱ 5000
At the end of one year, what would be the total savings be on a principal of ₱ 500 at 4% annual interest, compounded annually?
ANSWER: ₱ 520.00
Which month has 28 days?
ANSWER:
All of them
Calculate the Principal for the following information.
I = ₱62,500.00
r = .25%
t = 4 yrs
ANSWER: I=Prt
P= I/rt = 62,500/(.0025*4)
= ₱ 6250,000.00
What does the r stand for in the simple interest formula and how is it expressed?
ANSWER:
Interest rate expressed as a decimal
How much simple interest is owed on 2,000 pesos if borrowed for 7 years at 6%?
ANSWER: Is=Prt=₱ 2,000 .06 * 7
= ₱ 840
Find the amount of savings if ₱ 1,000 is deposited for three years at 8% annual interest, compounded annually.
ANSWER:
₱ 1,259.712
I am an odd number. Take away a letter and I become even. What number am I?
ANSWER: Seven
An initial deposit of 5,000.00 pesos is made into a savings account pays 7.1% interest annually. How much is in the account at the end of 5 years?
ANSWER: F= P+I =5000 + (5000 * .071 * 5)
=5000 + 1775
= ₱ 6775
Express 56 months in years
ANSWER:
56mo. * 1 yr/12mo.
= 4.6 years
Albert loaned John ₱ 3,400 at a simple interest rate of 12% for 8 years. How much did Albert owe John ?
ANSWER:Is=Prt=₱ 3400*.12*8=₱ 3264
S=P+Is=₱ 3400+₱ 3264=₱ 6664
Brian needs to pay Thomas a total amount of
₱ 6664
Interest for ₱ 1,240 at 8% compounded annually for 2 years
ANSWER: ₱ 206.34
Why did the math book look so sad?
ANSWER: Because it was full of problems
What is the initial deposit in a savings account that has a 7.5 % annual interest for 9 months with an accumulated interest of ₱1106?
ANSWER: I=Prt ; P=I/rt
P = 1106 / (.075 * (9 mo. * (1yr/12mo.)))
P = ₱ 19662.22222222222
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What is the total Amount to be paid for loan with a principal of ₱14,000 at 6% annual interest for 9 years?
ANSWER: ₱ 21,560.00
Interest for ₱ 21,000 at 13.6% compounded annually for 4 years
ANSWER: ₱ 13,972.98
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