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1. Which of the following refers to the fixed sum of money paid to someone at regular

intervals and subject to a fixed compound interest?

A. Annuity C. compound interest

B. Simple interest D. annuity certain

2. If the interest conversion or comppounding period is equal or the same with the payment interval, what type of annuity is illustrated? A. Annuity certain C. simple annuity
B. Annuity uncertain D. general annuity

3. If the interest conversion or compounding period is unequal or not the same as the

payment interval. Which type of annuity will be used?

A. Annuity certain C. simple annuity

B. General annuity D. annuity uncertain

4.What type of annuity is represented by a deposit of Php10,000 that is made at the

end of every three months to an account that earns 2.6% interest compounded

quarterly?

A. Simple C. ordinary

B. General D. annuity due

5. Which of the following situtations is an example of a general annuity?

A. Php5,000 deposited every month for 5 years at 8% per year compounded annually.

B. Php5,000 deposited every six months for 5 years at 8% per year compounded

semi-annually.

C. Php5,000 deposited every three months for 5 years at 8% per year compounded

quarterly.

D. Php5,000 deposited every year for 5 years at 8% per year compounded annually.

For numbers 6 – 9, refer to the problem below.

Mr. Jojo’s monthly insurance premium is Php500, payable at the end of each

month. His policy matures 20 years later, after which he can withdraw all his payments

plus the interest earned. If the money is worth 15% compounded monthly, how much

does he expect to withdraw on the maturity of his policy?

6. What is being asked in the problem?

A. Cash value C. Future Value

B. Regular Periodic Payment D. present value

7. What is the total conversion period of the insurance policy?

A. 20 C. 12

B. 120 D. 240

8. What is the annual interest rate of the insurance policy converted to decimal?

A. 0.15 C. 0.125

B. 0.015 D. 0.0125

9. How much does he expect to withdraw on the maturity of his policy?

A. Php800,519 C. Php748,619.74

B. Php798,716.74 D. Php543,519.84

For numbers 10 – 11, refer to the problem below.

A high school student would like to save Php50,000 for his graduation. He will be

depositing on his savings every month for 5.5 years and interest is at 0.25% compounded

monthly?

10.What is the interest rate per month converted to decimals?

A. 0.25 C. 0.0025

B. 0.025 D. 0.00025

11.How much should he deposit in his bank to get Php50,000 after 5.5 years?

A. Php752.46 C. Php764.52

B. Php762.46 D. Php765.42

12.Find the present value of an annuity of Php10,000 payable semi-annually for 5

years if money is worth 6% per year compounded quarterly.

A. Php120,640 C. Php230,145.19

B. Php171,686.39 D. Php286, 640

13.What is the future value of an ordinary annuity having daily payments of Php50 for

30 days with an interest rate of 20% compounded daily?

A. Php1,611.98 C. Php1,411.98

B. Php1,511.98 D. Php1,311.98

For numbers 14 – 15, refer to the problem below.

A farmer decided to sell his land and deposit the fund in a bank. After computing

the interest, he learned that he may withdraw Php390,500 yearly for 10 years starting at

the end of 6 years when it is time for him to retire. How much is the fund deposited if the

interest rate is 5% converted annually?

14.What is the number of artificial payments?

A. 4 C. 6

B. 5 D. 10

15.What is the present value of the annuity for withdrawal?

A. Php2,005,197.75 C. Php2,362,595.82

B. Php2,344,592.24 D. Php4,215,120.15

pahelp mga math gods dyan
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