NAME: ________________________________________ DATE: _____________________
YR & SECTION: __________________________________
QUIZ #3: SINGLE PAYMENT FACTOR and UNIFORM SERIES
Instructions: Solve the following questions and show complete solutions.
Use yellow paper for your answer with complete solutions. No ERASURE!
1. Assume you plan to have 200,000 dollars after 20 years, and you are offered an investment that gives you 6% per
year compound interest rate. How much money do you need to save each year and invest in the end of each
year?
2. You save 4000 dollars per year and deposit it at the end of the year in a savings account that gives you 6%
interest rate per year compounded annually for 20 years. How much money will you have at the end of the 20th
year?
3. If you invested in a college savings plan by making an equal and consecutive payments of PHP 2000 on your
child’s birthdays, how much will the account be worth when your child turns 18, assuming an interest rate of 6%
annually?
4. What is your mortgage payment on a Php 56,000.00 loan if you quoted 6.25% interest for a 30 year loan?
5. If you were to invest Php 2,000.00 today in a check deposit paying 8% per year, how much would the check
deposit be worth at the end of year four?
NAME: ________________________________________ DATE: _____________________
YR & SECTION: __________________________________
QUIZ #3: SINGLE PAYMENT FACTOR and UNIFORM SERIES
Instructions: Solve the following questions and show complete solutions.
1. Assume you plan to have 200,000 dollars after 20 years, and you are offered an investment that gives you 6% per
year compound interest rate. How much money do you need to save each year and invest in the end of each
year?
2. You save 4000 dollars per year and deposit it at the end of the year in a savings account that gives you 6%
interest rate per year compounded annually for 20 years. How much money will you have at the end of the 20th
year?
3. If you invested in a college savings plan by making an equal and consecutive payments of PHP 2000 on your
child’s birthdays, how much will the account be worth when your child turns 18, assuming an interest rate of 6%
annually?
4. What is your mortgage payment on a Php 56,000.00 loan if you quoted 6.25% interest for a 30 year loan?
5. If you were to invest Php 2,000.00 today in a check deposit paying 8% per year, how much would the check
deposit be worth at the end of year four?