I. Multiple Choice Directions: Choose the letter of the best answer. Show pertinent solution if necessary. 1. An amount of money borrowed or invested on the origin date Rate c. principal . Interest d. term 2. What do you call a date on which the money borrowed or loan is to be completely repaid? . loan date c. future date b. maturity date d. term 3. Mr. Cruz invested a certain amount in a bank at 6% simple interest per year. The interest he received amounted to Php 105,000 for 7 years. How much did Mr. Cruz invest? a. Php 250,000 c. Php 25,000 b. Php 44, 100 d. Php 4, 100 4. Rico deposits P 50,000 in a savings account and leaves it there for 6 years to accumulate interest at 9% compounded quarterly. What is the value of the number of conversions per year m? a. 1 c. 3 b. 2 d. 4 5. How long will a principal of Php 30,000 that earn an interest of Php 4,500 at 3% simple interest? a. 1/2 year c. 5 years b. 2 years d. 22.22 years 6. Find the maturity value of Php 40,000 compounded annually at an interest rate of 2.5% in 4 years. a. Php 6,002,500 b. Php 36,238.03 . Php 44, 152.52 d. Php 97,656.25 7. How much is the interest of Php 60,000 investment at 1.2% compounded annually for 10 years? a. Php 7,601.51 b. Php 6,746.75 C. Php 126,350.89 d. Php 299,536.75 8. Suppose you will save P 3,000 at the end of every three months in a bank that pays 3% compounded quarterly. How much is the amount or the future value of your savings after 18 months? a. Php 18,430.98 b. Php 18,3 0.89 C. Php 18,034.89 d. Php 18,000