UNIVERSITY OF THE CORDILLERAS

SENIOR HIGH SCHOOL

BUSINESS MATHEMATICS

I. Find the simple interest:

1. 25,000 at 3% for 9 months.

2. 5,685 at 4.5% for 2 years.
3. 13,452 at 6.7% for 7 months.
4. 168,000 at 5.6% for 6 months.

II. Find the maturity value and the amount of simple interest earned..

1. 31,250 at 2.5% for 10 months.

2. If 15,000 earned simple interest of 187.50 in 6 months, what was the simple
interest rate?
3. If 23,500 earned a simple interest of 1,410 in 9 months, what was the simple
interest rate?
4. From number 3, fin the length of time it will take for the interest to grow to 3,500.
5. Find the length of time it will take for an investment of 13,500 to grow to 15,930
at a simple interest rate of 3%.

III. Find the compound amount for each deposit and the amount of interest
earned.

1. 10,000 at 4.5% compounded annually for 6 years.

2. 7,000 at 5.4% compounded semiannually for 12 years.
3. 9,100 at 6.4% compounded quarterly for 9 years.
4. 15,000 at 6% compounded monthly for 10 years.

IV. Find the interest rate for each deposit and compound amount.

1. 28,000 accumulating to 35,563.11, compounded quarterly for 8 years.

2. 45,000 accumulating to 62,226.78, compounded monthly for 5 years.
3. 67,285 accumulating to 96,050.50, compounded semiannually for 7 years.

V. Fin the present value if the money is compounded as indicated:

1. 13,248.53 at 4.8% compounded annually for 6 years.

2. 42,181.21 at 5.3% compounded semiannually for 10 years.
3. 20,000 at 6% compounded quarterly for 8 years.
4. 20,000 at 7% compounded monthly for 8 years.

VI. Solve the following problems:

1. Danah borrowed 250,000 to buy a used car. She repaid the loan after 9
months, at an annual interest rate of 6.2%. Find the total amount she repaid. How
much of this amount is the interest?

2. A small business borrows 500,000 for expansion at 9% compounded monthly.

The loan is due in 4 years. How much interest will the business pay?

3. A developer needs 3,000,000 to buy a land. He is able to borrow the money at

10% interest per year, compounded quarterly. How much will the interest amount
to if he pays off the loan in 5 years?
4. A company has agreed to pay 2.9 million in 5 years to settle a lawsuit. How
much must it invest now in an account paying 5% interest, compounded monthly
to have that amount when it is due?

Business Mathematics, LIM, et al. (2016)