please answer all the question
Name: Grade and Section: Score: Parent's Signature: MULTIPLE-CHOICE TEST Choose the letter that corresponds to the correct answer. Write the CAPITAL LETTER of your answer on the space provided before each number. (10 points) 1. What do you call the money borrowed that may be used for a business purpose? A. business loan C. consumer loan B. collateral D. mortgage 2. Which of the following is money lent to an individual for personal or family purposes? A. business loan C. consumer loan B. collateral D. mortgage 3. What do you call an asset used to secure the loan that may be real estate or other investments? A. business loan C. consumer loan B. collateral D. mortgage 4. Which of the following is NOT an example of a business loan? A. cash flow loans C. invoice financing B. credit cards D. micro loans 5. Which of the following is NOT an example of a consumer loan? A. asset-based financing C. mortgages B. car loans D. student loans 6. Which of the following is an example of a consumer loan? A. asset-based financing C. invoice loans B. car loans D. micro loans 7. Lancelot bought a car amounting to P400,000.00 from Johnson. The seller demanded a 30% down payment from the buyer. How much will Lancelot give Johnson as down payment? A. P100,000.00 B. P120,000.00 C. P150,000.00 D. P280.000.00 8. Odette purchased a condominium worth P2,000,000.00. However, the bank demands a 25% down payment. How much is the mortgage amount? A. P500,000.00 B. P1,000,000.00 C. P1,500,000.00 D. P2,000,000.00 9. Pharsa borrowed P500,000.00 from the bank to renovate her house. The effective rate of interest is 6%. How much is to be paid if the loan is to be paid in 3 years? A. P470,000.00 B. P530,000.00 C. P561,800.00 D. P595,508.00 10. Carmilla applied in a financing company for a P200,000.00 worth of business loan to expand her computer business. Suppose she is required by the company to pay this in 3 years, what is the amount to be paid if the elective rate of interest is 706? A. P171,735.00 B. P228,980.00 C. P245,008.60 D. P224,720.00 Name: Grade and Section: Score: Parent's Signature: MULTIPLE-CHOICE TEST Choose the letter that corresponds to the correct answer. Write the CAPITAL LETTER of your answer on the space provided before each number. (10 points) 1. What do you call the money borrowed that may be used for a business purpose? A. business loan C. consumer loan B. collateral D. mortgage 2. Which of the following is money lent to an individual for personal or family purposes? A. business loan C. consumer loan B. collateral D. mortgage 3. What do you call an asset used to secure the loan that may be real estate or other investments? A. business loan C. consumer loan B. collateral D. mortgage 4. Which of the following is NOT an example of a business loan? A. cash flow loans C. invoice financing B. credit cards D. micro loans 5. Which of the following is NOT an example of a consumer loan? A. asset-based financing C. mortgages B. car loans D. student loans 6. Which of the following is an example of a consumer loan? A. asset-based financing C. invoice loans B. car loans D. micro loans 7. Lancelot bought a car amounting to P400,000.00 from Johnson. The seller demanded a 30% down payment from the buyer. How much will Lancelot give Johnson as down payment? A. P100,000.00 B. P120,000.00 C. P150,000.00 D. P280.000.00 8. Odette purchased a condominium worth P2,000,000.00. However, the bank demands a 25% down payment. How much is the mortgage amount? A. P500,000.00 B. P1,000,000.00 C. P1,500,000.00 D. P2,000,000.00 9. Pharsa borrowed P500,000.00 from the bank to renovate her house. The effective rate of interest is 6%. How much is to be paid if the loan is to be paid in 3 years? A. P470,000.00 B. P530,000.00 C. P561,800.00 D. P595,508.00 10. Carmilla applied in a financing company for a P200,000.00 worth of business loan to expand her computer business. Suppose she is required by the company to pay this in 3 years, what is the amount to be paid if the elective rate of interest is 706? A. P171,735.00 B. P228,980.00 C. P245,008.60 D. P224,720.00
