1. An amount of P200,000 is deposited for a period of 8 years. Compute the interest if it was made at a simple interest rate of 18%. 2. Calculate the exact interest on an investment of P2,000 for a period from January 30 to September 15, 2001, if the rate of interest is 10%. 3. A bank charges 12% simple interest on a P300 loan. How much will he repay if the loan is paid back in one lump sum after three years? 4. If you borrow money from your friend with simple interest of 12%, find the present worth of P20,000 which is due at the end of nine months? 5. An engineer borrowed a sum of money under the following terms: P650,000 if paid in 90 days, or P600,000 if paid in 30 days. What is the equivalent annual rate of simple interest? 6. Fifteen million pesos was invested in a software company on June 3, 2009, at 12% ordinary simple interest rate. Determine the date at which the investment would equal P19.5M. 7. A man invested part of P20,000 at 18% and the rest at 16%. The annual income from 16% investment was P620 less than three times the annual income from 18% investment. How much did he invest at 18%? 8. What is the present worth of P54,000 due in five years if money is worth 11% and is compounded semi-annually? 9. A bank offers 1.2 % per month. What is the effective interest rate if compounded monthly? 10. A commercial bank charges 2% interest per month on the unpaid balance of loans made by its credit card subscribers. It claims that the annual interest applied is 12 (2%) - 24%. Is this true? = 11. Compute the number of years when P2,500 is compounded to P5,800 if invested at 12% compounded quarterly. 12. A nominal interest of 3% compounded continuously is given on the account. What is the accumulated amount of P10,000 after 10 years? 13. An amount of P200,000 is deposited for a period of 8 years. Compute the interest if a) it was made 18% compounded bi-monthly; b) it was made at 18% compounded continuously. 14. Two years ago, Ms. ABC deposited P30,000 in a fund that earns 10% interest compounded semi-annually. If another deposit of P20,000 is made today, determine the accumulated amount in the fund after three years. 15. Three years ago, an engineer opened a savings account with an initial deposit of P200,000. He withdrew P50,000 three months later, and another P50,000 six months after the first withdrawal. Last year, he deposited P100,000 and withdrew P150,000 six months later. Find the account balance today if interest is 10% compounded quarterly.