Directions: Solve the following problems completely.

1. If ABC furniture borrowed P3, 500 from a bank charging 18% simple interest, how much would ABC furniture pay at the end of 24 months?

2. Find the ordinary interest on P3, 400 for 35 days at 5% simple interest.

3. Find the actual and approximate time from November 1, 1990 to January 18, 2000.

4. If money is worth 6 % simple interest, what is the present value of P8, 250.00 due in 2 years and 6 months?

5. Find the present value of P4, 500 for 2 years and 3 months at 5.5% simple interest.

Directions: Solve each of the following:

1.Suzie borrowed P10,000 on January 10, 2020 from PNB. If she promised to pay the principal and the compound interest at 8% compounded monthly, how much must she pay on March 25,2021?

2.Find the present value of P50,000 due at the end of 5 years if interest is computed at 12% compounded annually?

3.Lanie received P10,000 in 6 months at 8% converted quarterly. What was her initial investment?

4.What rate compounded annually will triple any sum in 4 years?

5.What nominal rate compounded monthly is equivalent to 10% effective rate?