General Mathematics

Quarter 2 – Module 1:
Simple Interest and
Compound Interest
 What I Need to Know

At the end of the lesson, the students are expected:

• illustrate simple and compound interests (M11GM-IIa-1); and

• distinguish between simple and compound interests (M11GM-11a-2).

What I Know

MULTIPLE CHOICE: Choose the letter of the correct answer.

1. The amount of money borrowed or invested on the origin date.

a. rate c. future value
b. principal d. interest
2. The amount of time in years when the money is borrowed or invested.
a. term c. maturity date
b. origin date d. rate
3. The person or institution that invests the money or makes the funds
available.
a. lender c. borrower
b. collector d. debtor
4. The amount after t years that the lender receives from the borrower on
maturity date.
a. present value c. maturity value
b. rate d. principal
5. It is based on a 30-day month computation.
a. actual time c. ordinary interest
b. approximate time d. exact interest
6. Find the actual time from February 20, 2018 to December 15, 2018.
a. 296 days c. 298 days
b. 297 days d. 299 days

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7. Find the approximate time from October 23, 2018 to June 9, 2019.
a. 225 days c. 227 days
b. 226 days d. 228 days
8. How much simple interest would acquire the an amount of PHP 10, 000
after 6 years at a rate of 3%?
a. PHP 1,500.00 c. PHP 1,900.00
b. PHP 1,800.00 d. PHP 2,100.00
9. Suppose you invested PHP 35, 000 at a simple rate of 2.5%, how much will
be your investment after 10 years?
a. PHP 43,750.00 c. PHP 45,730.00
b. PHP 45,370.00 d. PHP 47,350.00
10. Peter borrowed PHP 153, 000 at 8% compounded annually. How much he
will be paying after 3 years?
a. PHP 129, 375.49 c. PHP 195, 372.94
b. PHP 192, 735.94 d. PHP 197, 273.94

Notes to the Teacher

This module gives the learners the concept of simple and compound
interests.

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 Lesson
Illustrating Simple and
1 Compound Interests

Money cannot be borrowed all the time. Borrowing money might be a crucial decision
for someone who has a certain needs and purposes. But how much does it cost to
borrow money? In this regard, the idea of paying interest comes in. Paying interest
is paying for the use of money you borrowed under a certain circumstance. This has
been a part of human activities since time immemorial. It has been regarded as
legitimate commercial practice of all people in different walks of life. As an individual,
it is essential to understand how you can make your money works - a gain or a loss
in the lending and borrowing money industry.

What’s In

Change the following expressions into another form.

A. Express the following percent in decimal form.
1. 5%
2. 12%
3. 2.3%
4. 6.75%
5. 0.7%
B. Change the following decimals in percent form.
1. 0.25
2. 0.3
3. 2.7
4. 0.06
5. 0.0009
C. Express the following number of days and months in years.
1. 85 days
2. 267 days
3. 305 days
4. 10 months
5. 7 and a half months

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 What’s New

Unlock the 8-letter word by finding the similarities of each of the following
illustrations. Write your answer inside the boxes provided below.

Source: https://images.google.com/

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 What is It

Definition of Terms

Here are some important terms to remember.

1. Interest (I) – the amount paid or earned for the use of money.
2. Simple Interest (Is) – it is the interest that is computed on the principal and
then added to it.
3. Compound Interest (Ic) – the interest is computed on the principal and on the
accumulated past interests.
4. Principal (P) – the amount of money borrowed or invested on the origin date.
5. Rate (r) – the annual rate, usually in percent, charged by the lender, or rate of
increase of the investment.
6. Time or Term (t) – It is the amount of time in years the money is borrowed or
invested, length of time between the origin and maturity dates.
7. Maturity value or future value (F) – It is amount after t years that the lender
receives from the borrower on the maturity date.
8. Origin or loan date – The date on which money is received by the borrower.
9. Maturity date – The date on which the money borrowed, or loan is to be
completely repaid.
10. Lender o creditor – The person (or institution) that invests the money or makes
the funds available.
11. Borrower or debtor – The person (or institution) that owes the money or avails
of the funds from the lender.

Illustration of Simple and Compound Interest

Suppose you plan to invest 20,000.00 pesos for 5 years. The first bank offers
you 3% simple interest rate per year while the second bank offers 3% compounded
annually. Study how the interest is computed to help you decide which bank you
decide to choose to invest your money.

BANK A: SIMPLE INTEREST

P r t Solution Interest Future Value

20, 000 3% 1 (20,000 x .03 x 1) 600 20,600

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 P r t Solution Interest Future Value
20, 000 3% 2 (20,000 x .03 x 2) 1,200 21, 200

P r t Solution Interest Future Value

20, 000 3% 3 (20,000 x .03 x 3) 1, 800 21,800

P r t Solution Interest Future Value

20, 000 3% 4 ______________________ ___________ __________________

P r t Solution Interest Future Value

20, 000 3% 5 ______________________ ___________ __________________

You may now continue solving up to the 5th year, if you finally arrived at PHP 23,
000.00.

It is a good job!

Now you can check out how much interest Bank B can offer you.

BANK B: COMPOUND INTEREST

P r t Solution Interest Future Value

20, 000 3% 1 (20,000 x .03 x 1) 600 20,600

P r t Solution Interest Future Value

20,600 + 618
20, 600 3% 1 (20,600 x .03 x 1) 618
= 21, 218

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 P r t Solution Interest Future Value
21,218 + 636.54 =
21, 218 3% 1 (21, 218 x .03 x 1) 636.54
21, 854.54

P r t Solution Interest Future Value

___________ 3% 1 (_____________ x .03 x 1) ___________ __________________

P r t Solution Interest Future Value

___________ 3% 1 (_____________ x .03 x 1) ___________ __________________

Again, continue solving up to 5th year, see if you will also get PHP 23, 185.48. If so,
then give yourself an applause for doing it right!

Take Note: Simple interest remains constant throughout the investment term. In
compound interest, the interest from the previous year also earns interest. Thus, the
interest grows every year.

Can you now decide which bank you invest your money? Be sure to make the right
and wise choice.

Actual Time and Approximate Time

In computing interest, time or term is an important element in any financial

transaction. Time can be classified as actual time and approximate time. Both terms
can greatly affect the computation of interest. Refer to the given definitions below:

• Actual time – refers to the actual number of days between two given
dates.
• Approximate time – considers each month as having 30 days.

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Now, you see how this works. For instance, a loan transaction was made on July 26,
2019 and matured on November 8, 2019. Compute the actual time and approximate
time.

ACTUAL TIME APPROXIMATE TIME

July 26, 2019 = 5 days (31 - 26 = 5) July 26, 2019 = 4 days (30-26=4)

August 31 days August 30 days

September 30 days September 30 days

October 31 days October 30 days

November 8 days November 8 days

Total 105 days Total 102 days

Try another one, find the actual time and approximate time from January 13, 2020
to September 19, 2020.

ACTUAL TIME APPROXIMATE TIME

January 13 18 days January 13 17 days

February 28 days February 30 days

March 31 days March 30 days

April 30 days April 30 days

May 31 days May 30 days

June 30 days June 30 days

July 31 days July 30 days

August 31 days August 30 days

September 19 days September 19 days

Total 249 days Total 246 days

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 What’s More

A. WORD HUNT

Arrange the jumbled letters to form 15 words which are related to simple and
compound interest. The words may be hidden in the grid in any direction.

I A S B I A N A F A E H

N E R O M N A D U S T A

V E G R N N T A T B T E

E T B R F U R E U M R L

S M N O C A E T R U A S

T A J W O L L N E E N R

A T U E I N A O V T S A

R U S R L I N K A H A T

P R I N C I P A L N C E

M I T Y U F S E U T T A

A T A E E R M R E T I R

T Y M A D I A B C D O E

U D E B T O R D T U N D

R A E X A C T L M E I N

I T F U T U R E Y O U E

T E M I T L A U T C A L

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B. Complete the table.

SIMPLE INTEREST

P r t Solution Interest Future Value

15, 000 5% 1

COMPOUND INTEREST

P r t Solution Interest Future Value

15, 000 5% 1

C. Find the actual time and approximate time from August 25, 2019 to April 11,
2020.

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 What I Have Learned

Using Venn Diagram below, give the similarities and differences between simple
interest and compound interest.

SIMPLE INTEREST COMPOUND INTEREST

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 What I Can Do

Accomplish a reflection journal using the given images below.

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 Assessment

Solve the following word problems.

1. How much interest would your money earn if you deposited PHP 25,
000. 00 at a simple rate of 3% given the actual date from June 6, 2020
to March 25, 2021.
2. During this time of pandemic, many lending institutions offer a loan
package to wage earners. Suppose loan company ABC offers you to
borrow money amounting to PHP 50, 000 and payable in 4 years at a
simple interest rate of 3% per annum, while loan company XYZ offers a
3% compounded annually. What loan company will you borrow money,
then justify why you decide to choose to make loan with that particular
loan company.

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 Additional Activities

Match each set of triangles to form a logical computation of a bigger triangle that
includes the Principal, Time, Rate, and Interest.

Principal Principal Principal

37, 500.00 15,000.00 12,000.00

Time Time Time

2.5 years 9 months 5 years

Rate Rate Rate

5.3% 6.5% 3%

Interest Interest Interest

6, 093.75 2, 250.00 477.00

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 18
Additional Activities: What’s More:
P – 37,500.00
R – 6.5% Assessment:
T – 2.5 years B.
I – 6,093.75 1. PHP 600.00 Interest: Future Value
2. Lending institution A: PHP 750.00 PHP 15,750.00
PHP 56,000.00 PHP 1,500.00 PHP 16,500.00
P – 15,000.00 PHP 2,250.00 PHP 17,250.00
R – 3% Lending institution B:
T – 5 years PHP 56, 275.44 Interest: Future Value:
I – 2,250.00 PHP 750.00 PHP 15,750.00
PHP 787.50 PHP 16,537.50
PHP 826.88 PHP 17,364.38
P – 12,000.00
R – 5.3% C.
T – 9 months Actual Time: 229 days
I - 477 Approximate Time: 226 days
What’s New What’s In:
What’s More: A.
INTEREST 1. 0.05
A. Invest 2. 0.12 What I Know:
Borrower 3. 0.023
Annual What is It: 4. 0.0675 1. B
Future value 5. .007 2. A
Transaction Simple Interest
B. 3. A
Rate Interest:
1. 25% 4. C
Maturity date PHP 2,400.00
2. 30% 5. B
Lender PHP 3,000.00
3. 270% 6. C
Interest Future Value:
4. 6% 7. B
Loan PHP 22,400.00
5. 0.09% 8. B
Principal PHP 23,000.00
C.
Time 9. A
1. 0.24
Term Compound Interest 10. B
2. 0.73
Debtor Interest:
3. 0.8U
Actual time PHP 655.64
4 0.83
PHP 675.30
5. 0625
Future Value:
PHP 22,510.18
PHP 23,185.48
Answer Key
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What’s More:
A.
References
DepEd (2016). General Mathematics: Learner’s Material (English).First Edition.

Phoenix Publishing House (2016). Next Century Mathematics: General

Mathematics.

Vibal Group Inc.(2016). General Mathematics.

DepEd (2020). Most Essential Learning Competencies.

https://www.canva.com/design/DAEJg6zaG14/7BdhJxfHJi_sxP5yg8mAg/edit?cat
egory=tACZCgsdcSU#

https://www.coursehero.com/file/p18q8bl/Exact-and-Ordinary-Interest-Actual-
and-Approximate-Time-Exact-Interest-refers/

https://www.google.com/search?q=venn+diagram+template&safe=active&rlz=1C1C
HZL_enPH898PH900&tbm=isch&source=iu&ictx=1&fir=O51Zq6GjOnX44M%252Cz
Z1er_Li-DiY6M%252C_&vet=1&usg=AI4_-kRcVD0_FxlQbg0i0PjuUx-w-
t92nQ&sa=X&ved=2ahUKEwje4NDBwJfsAhUCGaYKHQwmAKQQ9QF6BAgNEFw&b
iw=1366&bih=608#imgrc=O51Zq6GjOnX44M

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 General Mathematics
Quarter 2 – Module 2:
Interest, Maturity Value, Future Value, and
Present Value in Simple and Compound
Interest
 What I Need to Know

This module is made for the learners to be able to demonstrate an understanding of

the key concepts of simple and compound interest, and simple and general
annuities.

At the end of this module, the learners will be able to:

1. Investigate problems involving simple and compound interests;

2. Computes interest, maturity value, and present value in simple interest and
compound interest environment (M11GM-IIa-b-1); and
3. Solve problems involving simple and compound interests (M11GM-IIb-2).

What I Know

Before dealing with the lessons of this module, try to measure your prior knowledge
about Interest.

Direction: Write the letter of the correct answer on the space provided before each
number.

1. Determine the simple interest that Pia Catriona needed to pay if she borrowed
Php2, 345 at 3 1/5 % for10 months.
A. Php26.35 B. Php67.25 C. Php62.53 D. 65.32
2. How much Cardo Dalisay borrowed if the interest he paid after 9 months at
12.25% simple interest is Php 2,468?
A. Php 28, 266.59 B. Php 26, 268.95
C. Php 22, 686.95 D. Php 26, 862.59
3. What is the interest rate did Ahmad receive, after investing the amount of Php
24, 500.00 which earned a simple interest of Php 4, 545.00 after 3.5 years?
A. 3.5% B. 4.5% C. 5.3% D. 5.5%
4. How long should it takes if Maria Linda invests the amount of Php 85, 430.00 to
earn an interest of Php 5, 555.00 at 3 1/4 % simple interest?
A. 1.5 years B. 2 years C. 2.5 years D. 3 years
5. How much is the total amount should Mrs. Soriano receives, if she will invest
Php 123,450.00 for 3.25 years at 2 3/4 % simple interest?
A. Php 134, 483.34 B. Php 143, 384.34
C. Php 144, 834.43 D. Php 148, 343.43

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6. Which of the following are NOT true?
I. Principal is the money borrowed or invested on the origin data.
II. Origin date is a date on which money is paid by the borrower.
III. Interest is an amount paid or earned for the use of money.
IV. Simple interest is an interest that is computed on the principal and then
subtracted to it.
A. I and II B. II and III C. III and IV D. II and IV
7. Analyze the two statements below.
Statement 1 : Equivalent rates refer to two annual rates with different
conversion periods that will earn the same maturity value for the same
time/term.
Statement 2 : Effective rate is a rate when compounded annually will give
different compound each year with the nominal rate.
A. Both statements are true
B. Both statements are false
C. Statement 2 is true but statement 1 is false
D. Statement 1 is true but statement 2 is false

For numbers 8 and 9, consider the statement below.

Gazini Ganados wants to invest money amounting Php 36, 960.00 for 5.75 years at
the interest rate of 8 3/5 % compounded annually.
8. Find the maturity value (F).
A. Php 53, 995.49 B. Php 55, 399.94
C. Php 59, 395.49 D. Php 59, 953.94
9. Find the compound interest (Ic)
A. Php 24, 243.94 B. Php 23, 542.49
C. Php 22, 435.49 D. Php 25, 234.94
10. Mr. Duterte invested Php 234, 500.00 at 3 1/4 % compounded annually. He
decides to get this amount for his daughter’s debut party. How much will he get
after 45 months?
A. Php 263, 184.20 B. Php 264, 381.20
C. Php 268, 143.20 D. Php 281, 346.20
11. Find the interest if Php 987, 650.00 is deposited in a bank at 4.15%
compounded monthly for 39 months.
A. Php 140, 349.50 B. Php 142, 347.50
C. Php 811, 479.50 D. Php 991, 542.50
12. Patricia Magtanong borrows Php 481, 215.00, and she compromises to pay the
principal and interest at 9 1/10 % compounded quarterly. How much she will
pay after 7 years and 9months?
A. Php 966,480.93 B. Php 948,660.39
C. Php 986,406.93 D. Php 906,468.39
13. If a certain amount of money is worth 6 4/5% compounded semi-annually, find
the present value of Php500, 500.00 due at the end of 5 years, and 3 months.
A. Php 391, 53.20 B. Php 352, 320.91
C. Php 325, 193.10 D. Php 330, 252.19
14. How long will it takes an amount of Php 7, 350.00 to Php 18, 500.00 if it is
invested in a bank at 8% compounded monthly?
A. 8.51 years B. 15.18 years
C. 11.58 years D. 18.15 years
15. At what interest rate will an amount of Php 2, 050.00 to Php 3, 875.00 in 4
years and 6months, if the given interest is compounded semi-annually?
A. 1.46% B. 1.66% C. 16.46% D. 14.66%

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 Lesson Illustrate and Distinguish
1&2 Simple and Compound
Interests
Almost everyday money is borrowed and loaned in thousands of transactions amounting, in
total, to hundreds of millions of pesos. A bank is a financial institution that is
involved in borrowing and lending money. Bank stake customer deposits in return
for paying customers an annual interest payment. The bank then uses the majority
of these deposits to lend to other customers for a variety of loans.

Borrowing and lending are two sides of the same transaction. To the lender, the
loan represents an investment in a debt obligation. The interest charged provides
income form the investment. The rate of return on the investment is equal to the
rate of interest charged to the customer.

Since borrowing and lending are so central to our daily lives and in the economic
system, it is essential to familiarize with the definition of terms and learn the
computation of interest in borrowing/lending transactions.

What’s In

Activity 1: RECALL AND MOVE FORWARD

DIRECTION: Write SI if the statement below refers to simple interest and CI if

compound interest.

_____ 1. It is the product of principal, rate, and time.

_____ 2. It is useful for investing since it allows the fund to grow at a faster rate.
_____ 3. Most of the car loans are calculated based on it.
_____ 4. Computation is very easy and easy to understand.
_____ 5. Interest is charged on the principal and the interest amount.
_____ 6. Principal and interest growth is rapid and increases at a fast pace.
______ 7. The principal keeps on changing due to the addition of accrued interest in the
entire period.
_____ 8. The principal is constant.
_____ 9. It offers a comparatively high return to the lenders.
_____ 10. It is the interest which is a percentage of both principal and accrued interest.

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 What’s New

Activity 2: CONCEPTUAL DRILL/ SOLVE AND DECODE A WORD

DIRECTION:
A. Write TRUE if the statement is correct otherwise, write FALSE.
________1. If the interest is compounded monthly for 3 years, then the number of
interest periods is 36.
________2. The periodic rate of an annual interest rate of 6% compounded quarterly
is still 6%.
________3. The interest rate per period of an annual interest rate of 6%
compounded quarterly is 1.5%.
________4. If Php2000 is deposited for 2 years with an annual simple interest rate of
1%, then it will earn a total of Php20 in the given time.
________5. If Php2000 is deposited for 2 years with an annual simple interest rate of
1%, then it will earn a total of Php40 in the given time.

DIRECTION:
Solve the worded problem analytically. Match the appropriate letter that
corresponds to your answer in each item. Write it on the space provided
inside the box.

Hint: It is the percentage of a certain amount called the principal amount.

i n t e r e s t
1 2 3 4 5 6 7 8

COLUMN A COLUMN B
1. Danica invested Php50, 000, and was offered an interest rate a. Php9, 800
of 3% a year. How much will she earn in a year?
2. Jeff was convinced by his friend to invest in his company. His b. Php12, 500
investment in his friend’s company will earn a simple interest
rate of 5% per year. If Jeff decided to invest Php250, 000 for
5 years, how much interest will he get?
3. Debbie invested Php100, 000, and earned an interest rate of c. Php2, 500
1% per annum. How much will she earn in 2 years?
4. Ronda invested Php50, 000 with an interest rate of 5% a year. d. Php62, 000
How much will he earn in a year?
5. Annaliza wants to put her savings in a trust fund with a e. Php1, 500
simple interest rate of 2% a year. If she decides to invest
Php500, 000 for 3 years, how much interest will she earn?
6.Francisca invested Php150, 000 with an interest rate of 10% a f. Php62, 500
year. How much will she earn in a year?
g. Php5, 000
h. Php30, 000
i. Php15, 000
j. Php2, 000

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 What is It

Lesson Interest, Maturity Value, Future

3 Value and Present Value in Simple

Interest

Simple Interest (Is) is the amount paid for the borrowed money or the amount earned for the
deposited or invested money. It is calculated as a percentage of the original
amount borrowed or deposited over a period of time.

3.1 Calculating Simple Interest

The Equation to compute for simple interest is

Where
I = interest
P = principal or the original amount borrowed or deposited
r = percentage rate of interest
t = term or period or length of borrowing time until payment

You may now work on the following examples to illustrate the application of the
above.

Example 1: Solution:
Mary Anthonette borrows Php 10, 000.00 a. P = Php10, 000.00
at 10.25% interest rate a year. b. r = 10.25% or 0.1025
a. What is the principal (P)? c. t = 1 year
b. What is the interest rate (r)? d. Substituting the values in the given
c. What is the time or borrowing period formula
(t)? I = Prt= (10, 000)(0.1025)(1)
d. What is the interest after a year? = Php 1, 025.00
Example 2: Solution:
Kara Mia deposits Php111, 110.00 in her bank I = Prt= (111, 110)(0.052)(5.25)
account at 5 1/5% interest rate. How much = (111, 110)(0.273)
interest will she earn in 5.25 years? = Php 30, 333.03
Given: P = 111,110
r = 5 1/5% = 5.2% or 0.052
t = 5.25 years
Find:I

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Example 3: Solution:
Find the interest paid by Kathryn Nadine I = Prt
on Php150, 150.00 that she borrowed for = (150,150) (0.0175)(3.75)
three years and 9 months at 1 3/4 % = (150,150) (0.065625)
simple interest. = Php9, 853.59

Given:
P = 150, 150
r = 1 3/4% or 1.75% or 0.0175
t = 3 years and 9 months = 3 9/12= 3.75
years
Find: I

Example 4: Solution:
If Sahaya borrowed Php125, 500.00 at an Prt= (125,500)(0.0775)(3.5)
annual simple interest rate of 7 3/4 % for = (125,500)(0.27125)
42 months, how much interest should she = Php 34,041.88
pay?
Given:
P = 125, 500
r = 7 3/4 % 7.75% or 0.0775
t = 42 months
= 3.5 years
Find: I

Note:
When the term is expressed in a month (m), convert in year(s) by t= m/12

ENHANCEMENT EXERCISE 1:
Answer each of the following worded problems. Compute for the
unknown then label your final answer properly.
1. Mrs. Batungbakal gave a Php100, 000.00 to Mrs. Macaspac at 18%. How much
was the interest after 45 days?
2. How much interest interest will be paid by Mr. Tom McKey, if he borrowed
Php515, 515 at 3.25% after 8 months?
3. Cory Kong deposited Php202, 020 at a rural bank in Tayug and she is paying
1.5%per annum simple interest. How much interest will she earn after 2 years
and 6 months?

3.2 Maturity (Future) Value with Simple Interest

When the time period of a loan reaches its maturity date, the loan is said to
mature. In that period, the borrower repays the principal and the interest. The total
repayment is known as the maturity value (or future value).

To find the maturity (future) value, use the formula,

F=P+I
= P + Prt
= P (1+rt) < by factoring >

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 Where
P = principal
r = interest rate (convert to decimal)
t = time (in years)

Note:
Although maturity value and future value mean the same thing, maturity
value is used for loans while future value is for invested or saved money.
While principal and present value mean the same thing also, principal is
usually used for loans while present value is for invested or saved money.

Take the following examples for application of the formula.

Example 1:
Find the maturity (future) value:
Principal (P) Rate (r) Time (t) Maturity Value (F)
Php12, 345 2.15% 1.25 years (a)

Php67, 890 0.1% 2 years and 9 mos. (b)

Solution:
a. F = P (1 + rt )
= 12, 345 [(1 + (0.0215) (1.25)]
= 12, 345 (1 + 0.026875)
= 12, 345 (1.026875)
= Php12, 676.77

b. F = P (1 + rt)
= 67, 890 [(1 + (0.001) (2.75)] 2 years and 9 mos. = 2 ¾ years
= 67, 890 (1 + 0.00275) = 2. 75
= 67, 890 (1.00275)
= Php68, 076.70

Example 2:
How much should Lizzy Mae pay for a Php10, 000.00 loan, if charged at 16.5% at the end of 1
year and 6 months?

Given: Solution:
P = 10, 000 F = P (1 + rt )
r = 16.5% = 0.165 = (10, 000) [1+ (0.165)(1.5)]
t = 1 year and 6 months = (10, 000)(1 + 0.2475)
= 1 6/12 = (10, 000)(1.2475)
= 1.5 years = Php12, 475.00
Find: F

Example 3:
Six years and nine months ago, Bianca borrowed Php25, 000 from Bernadette with
the promise that Bianca will pay Bernadette the principal amount plus
accumulated interest at 9 5/8% simple interest now. What amount is due?

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Given: Solution:
P = 25, 000 F = P (1 + rt)
r = 9 5/8% =9.625% = 0.09625 = (25, 000) [1+ (0.09625)(6.75)]
t = 6 years and 9 months = 6 9/12 = 6.75 years = (25, 000)(1 + 0.6496875)
Find: F = (25, 000)(1.6496875)
= Php41, 242.19

ENHANCEMENT EXERCISE 2:
Solve the following problems with complete solution.

1. Find the maturity (future) value (F).

Principal (P) Rate (r) Time (t) Maturity Value (F)
Php123, 450 .25% 15 months (a)
Php456, 780 2.5% 2 years and 3 mos. (b)
Php789, 100 2 2/5% 3 years and 6 mos. (c)

2. Jamaica Rimorin invested the amount of Php100, 000 in a bank that offers 15
1/2% per annum simple interest. How much will she earned after 90 days?
3. Reuben’s mother borrowed Php35, 000 to fix their car. The bank charges 5%
interest for two years. What is the total amount that his mother will owe the
bank?

3.3 Finding the Present Value, Rate and Time in Simple Interest

From the formula F = P (1 + rt), we can also be derived other equations. Using the
Golden Rule of Equations, we will arrive with the following formulas:

For Present value (P), we have

P = F / (1 + rt)

In finding the rate (r), the formula is

r = (F-P) / Pt
In computing number of years (t), use
t = (F-P) / Pr

Take the following examples for you to understand the application of the above
formulas.

Example 1:
Complete the table below by solving for the unknown.

F P r t
Php12, 345 (a) 1.05% 51 months
Php246, 810 Php151,515 (b) 9 years and 9 months
Php3, 691, 215 Php1,234,560 12 3/20% (c)

Solution:
a. P= F / (1+rt) = 12, 345 / [1 + .0105(4.25)]= 12, 345 / 1.004625
=Php11, 817.64

11
 b. r= (F-P) / Pt = (264,810 – 151, 515) / (151,515)(9.75)
=95,295 / 1, 477, 271.25
=0.0645 or 6.45%
c. t= (F-P) / Pr =(3, 691, 215 – 1, 234, 560) / (1, 234,560)(0.1215)
= 2, 456, 715 / 149,999.04
= 16.38 years

Example 2:
Marvin and Alyssa Marie want to invest now in preparation for their daughter’s
debut. Hence, they want to have Php150, 000.00 after 10 years. How much should
they invest at an investment paying 15% for 5years?

Given: Solution:
F = 150, 000 P= F / (1+rt)
r = 15% = 0.15 =150, 000 / [1+(0.15)(5)]
t = 5 years = 150, 000/ (1+0.75)
Find: P = 150, 000 / 1.75
= Php85, 714.29

Example 3:
At what rate will the amount of Php20, 000 investment yields Php85, 000 in15
years at simple interest?

Given: Solution:
F = 85, 000 r = (F-P) / Pt
P = 20, 000 = (85,000-20, 000) / (20, 000)(15)
t = 15 years = 65, 000 / 300, 000
Find: r = 0.22 or 22%

Example 4:
How long will an investment of Php543, 200 yields Php876, 500 at simple interest
rate of 5% annually?

Given: Solution:
P= 543, 200 t = (F-P) / Pr
F= 876, 500 = (867, 500 – 543, 200) / (543, 200)(0.05)
r= 5% = 0.05 = 333, 300 / 27, 160
Find: t=? = 12.27 years

ENHANCEMENT EXERCISE 3:

Complete the table below.

F P r t
Php1, 010.10 Php864.20 5.15% (a)
Php202, 020.20 Php100, 100 (b) 6 years &6 mos
Php5, 050, 500.50 (c) 4 3/5% 8.5 years

12
 Lesson Interest, Maturity Value, Future

4 Value, and Present Value in

Compound Interest

C o m p o u n d I n t e r e s t is the interest resulting from the periodic addition of

simple interest to the principal. The formula for compound interest (Ic) is
Ic = F– P
Where
Ic = compound interest
F = maturity (future) value
P = principal

The time interval between succeeding interest calculations is called the conversion
period or compounding period. The interest earned during a period is “converted” to
principal at the end of the period because the principal and the interest are
combined and treated as the new principal for the succeeding period. The effect
of converting interest to principal is that the interest earned in a period will also earned
interest in all succeeding periods. The resulting value is called maturity (future) value and
is designated by F. The formula for maturity (future) value is–

F = P (1 + r) t
Where
F = maturity (future) value
P = principal or original amount of money
r = interest rate
t = term or number of years

Example 1:
Find the maturity value and compound interest on the principal Php30, 000 if
borrowed at 4.5% compounded annually for 3 years.

Given: Solution:
P = 30,000 F = P (1 + r)t
r = 4.5% = 0.045 = 30, 000 (1 + 0.045)3
t = 3 years = 30, 000 (1.045)3= 30, 000 (1.141166125)
Find: F and Ic Ic = Php 34, 234.98– 30, 000= Php 4, 234.98
Example 2:
How much money will you have in a bank after 5 years, when your mother
deposited Php15, 000 at an annual interest rate of 1 ¼ % compounded yearly?

Given: Solution:
P = 15, 000 F = P (1 + r)t
r = 1 ¼ % = 1.25% = 0.0125 = 15, 000 (1 + 0.0125)3
t = 5 years = 15, 000 (1.0125)3
Find: F = 15, 000 (1.037970703)
= Php15, 569.56

13
Example 3.
Bryan Bagunas invested Php 123, 450.00 in a bank at 2 ¾ %compounded annually
for 69 months.
Find: Solution:
a. maturity (future) value F = P (1 + r)t
b. compound interest = 123, 450 (1 + 0.0275)5.75
= 123, 450 (1.0275)5.75
Given: = 123, 450 (1.168814325)
P = 123, 450 = Php 144, 290.13
r = 2 ¾ % = 2.75 % = 0.0275
t = 69 months = 69/12 = 5.75 years Ic= F–P= 144, 290.13 - 123, 450
Find: F and Ic = Php20, 840.13

ENHANCEMENT EXERCISE 4:

1. Complete the table by finding the unknown values.

P r t F Ic
Php5, 790 1.3% 75 mos. (a1) (a2)
Php35, 790 .13% 7.75 mos. (b1) (b2)
Php135, 790 1 3/5 % 5 years and (c1) (c2)
6 mos.
2. To what sum of money of Php71, 200 will accumulate in 2 years and 9 months
at 7% compounded annually? How much is the compound interest?
6. How much will be paid on the maturity date December 27, 2019, for a loan of
Php45, 000 that is made on June 27, 2015 with interest rate at 12 ½ %
converted annually?

4.1 Finding the Present Value at Compound Interest

From the formula, F = P (1 + r) t, you can derive the formula in finding the present
value.

Take F = P (1 + r) t then

F /(1+rt) t = P(1+rt) t / (1+r) t <divide both sides by (1+r)t>

So you will get,

P = F / (1+r) t

To fully understand the application, take the following solved examples.

Example 1:
Find the present value of Php34, 500.00 due in 3 years and 3months, if money is
worth 3.45% compounded annually?

Given: Solution:
F = 34, 500 P = F / (1+r) t
t = 3 years and 3 months 3 = 3 3/12 = 3.25 years = 34, 500 / (1 + 0.0345) 3.25
r = 3.45% or 0.0345 = 34, 500 / (1.0345) 3.25
Find: P = 34, 500 / 1.116539544
= Php30, 899.04

14
Example 2:
How much Manilyn should put in a time deposit in a bank that pays 2.15% compounded
annually so that she will have Php876, 500 after 81months?

Given: Solution:
r = 2.15% or 0.0215 P = F / (1+r) t
F = 876, 500 = 876, 500 / (1+0.0215)6.75
t = 81 months = 81/12 = 6.75 years = 876, 500 / (1.0215)6.75
Find: P = 876, 500 / 1.15440714
= Php759, 264.19

ENHANCEMENT EXERCISE 5
Solve the following problems with complete solution.
1. How much money must be invested to obtain the amount of Php757, 575 in 7
years and 6 months if money earns 5.25% compounded annually?
2. Keifer Ravena wants his investment grows to Php696, 969 in 6 years and 9
months. How much should he invest in his account that pays 6.9%compounded
annually?
3. How much Ramil de Jesus must be deposited in a bank that offers 6 3/5 %
compounded annually so that after 69 months, he will have Php909, 090?

4.2 COMPOUNDING MORE THAN ONCE A YEAR

The compound frequency (or conversion frequency) is the number of compounding

that takes place a year. The number of conversion periods for one year is denoted
by m, while the total number of conversion periods for the whole investment term is
denoted by n.
Compounding or Conversion Number of Compounding(s) or
Frequency Conversion(s) per Year
Annually 1
Semi-Annually 2
Quarterly 4
Monthly 12
Weekly 52
Daily 365

The formula for the total number of conversion periods for the whole term is–

n= mt
Where:
n = total number of conversion periods for the whole term
m = number of conversion periods per year
t = time period (term) of the loan or investment

The interest rate (im) is usually expressed as an annual or yearly rate, and must be
changed to the interest rate per conversion period or periodic rate (j). The formula
to be used is –

j= im / m

Where:

15
 j = rate of interest for each conversion period
im = annual rate of interest
m = frequency of conversion

FINDING THE MATURITY (FUTURE) VALUE IN COMPOUND INTEREST

The maturity (future) value, compounding m times a year can be computed using the
formula –
Where:
F= P (+j) n F = maturity (future) value
P = principal
F= P ( 1 + im/m) mt
im= nominal rate of interest (annual
rate)
m = frequency of conversion
t = term/time in years
Let us take the following examples for the application of the above formula.

Example 1:
Find the maturity value of Php565, 565 invested for 2 years and 6 months
at 5.25% compounded quarterly.

Given:
P = 565, 565
t = 2 years and 6 months= 2 6/12 = 2.5 years
m=4
im = i4 = 5.25% or 0.0525
Find: F

Solution:
Compute for the interest rate in a conversion period

j= im / m = i4 / 4 = 0.0525/4 = 0.013125

Compute for the total number of conversion periods

n = mt = (4)(2.5) = 10

Compute for the maturity (future) value

F= P (+j) n = 15, 000 (1 + 0.045)9.5 = 15, 000(1.045)9.5 = 15, 000 (1.519164346)
= Php22, 787.47

Example 3.
Find the compound amount and interest on Php175, 250 for 15years and 6 months
at 6 ¾ % compounded quarterly.

Given:
P = 175, 250
m=4
im = i4 = 6 ¾ % = 6.75 or 0.0675
t = 15 years and 6 months = 15 6/12 = 15.5 years
Find: F

Solution:

16
Compute first j and n before F and Ic

j= im / m = i4 /4= 0.0675 / 4 = 0.016875

n = mt = (4) (15.5) = 62

F= P (+j) n = 175, 250 (1 + 0.016875)62 = 175, 250(1.016875)62= 175, 250 (2.822210202)

= Php494, 592. 34

Ic = F– P= 494, 592. 34 –175, 250

= 319, 342.34

ENHANCEMENT EXERCISE 6

Solve each of the following:

1. Find the compound amount and interest on Php 175, 250.00 for 15 years and6 months at
6 ¾ % compounded quarterly.
2. On January 23, 2013, Julius Paclibar borrowed Php15, 000 and promised to pay the
principal and interest at 9% compounded semi-annually on October 23, 2017. How
much will he pay?
3. Find the maturity value of Php565, 565 invested for 2 years and 6 months at
5.25% compounded quarterly.

4.3 FINDING THE PRESENT VALUE IN COMPOUND INTEREST

From the formula, F = P (1 + j) n, we can derive the formula in finding the present
value.

Take
F=P(1+j)n then

F / (1+j) n = P(1+j)n / (1+j)n <divide both sides by (1+j)n>

So you will get,

P= F / (1+j)n

Where

P = present value
F = maturity (future) value
j = im / m = rate of interest per conversion period
n = mt = total number of conversion period

Apply the formula with the following examples:

Example 1:
Cardo and Aryana aim to accumulate Php3, 691, 215 in 15 years. Which investment will
require the largest present value?
a. 5% compounded monthly
b. 5% compounded quarterly
c. 5% compounded semi-annually

Given:
P = 3, 691, 215

17
t = 15 years

Solution:
a. When m =12 and im = i12 = 5% 0r 0.05

j = im / m = i12 / 12 = 0.05/12 = 0.0042

n = mt = (12) (15) = 180

P= F / (1+j)n = 3, 691, 215 / (1+0.0042)180

= 3, 691, 215 / (1.0042)180
= 3, 691, 215 / 2.126371129
= Php1, 735, 922.27

b. When m = 4 and im = i4 = 5% or 0.05

j = im / m = i4 / 4 = 0.05/4 = 0.0125

n = mt = (4) (15) = 60

P= F / (1+j)n = 3, 691, 215 / (1+0.0125)60

= 3, 691, 215 / (1.0125)60
= 3, 691, 215 / 2.107181347
= Php1, 751, 731.05

c. When m = 2 and im = i2 = 5% or 0.05

j = im / m = i2 / 2 = 0.05/2 = 0.025

n = mt = (2) (15) = 30

P= F / (1+j)n = 3, 691, 215 / (1+0.025)30

= 3, 691, 215 / (1.025)30
= 3, 691, 215 / 2.097567579
= Php1, 759, 759.75

Example 2:
A financial obligation of Php25, 500 is due on January 6, 2019. What is the value
of this obligation on July 6, 2013 at 9% compounded semi-annually?

Given:
F = 25, 500
im = i2 = 9% or 0.09
m=2
t = July 6, 2013 to January 6, 2019 (5 years and 6 months)= 5 6/12 = 5.5 years
Find: P

Solution:
When m = 2 and i2 = i2 = 9% or 0.09

j = im / m = i2 / 2 = 0.09/2 = 0.045

n = mt = (2) (5.5) = 11

18
 P= F / (1+j)n = 25, 500 / (1+0.045)11
= 25, 500 / (1.045)11
=25, 500 / 1.622853046
= Php15, 713.07

ENHANCEMENT EXERCISE 7

Solve each of the following:

1. Find the present value of the following if the compounded amount is Php690,
690.00 at 6.09%;
a. compounded monthly for 6 years and 9 months.
b. compounded quarterly for 9 years and 6 months.
c. compounded semi-annually for 6 years and 6 months.

2. How much should Jeuz Batalla needs to invest today to buy his only son a
brand new Toyota car worth Php1, 234, 567 as a graduation gift 8.5 years from
now if money is worth 9 ¾ % compounded quarterly?

What’s More

Activity 3

A. Determine the simple interest for these loans.

1. Php450 at 7% for 2 years
2. Php5, 200 at 4% for 3 years
3. Php1, 300 at 5% for 6 years
4. Php5, 400 at 3.5% for 6 months
5. Php600 at 4% for 9 months.
B. Solve for the following:
1. Php500 invested at 4% compounded annually for 10 years.
2. Php600 invested at 6% compounded annually for 6 years.
3. Php750 invested at 3% compounded annually for 8 years.
4. Php1500 invested at 4% compounded semiannually for 7 years.
5. Php900 invested at 6% compounded semiannually for 5 years.

19
 What I Have Learned

Interest, Maturity Value, Future Value and Present Value in Simple

and Compound Interest!
Topic Basic Concepts
Calculating Simple Interest Simple Interest (Is) is calculated as a
percentage of the original
amount borrowed or deposited over a
period of time.
Maturity (Future) Value with Simple When the time period of a loan reaches its
Interest maturity date, the loan is said to mature.
In that period, the borrower repays the
principal and the interest. The total
repayment is known as
the maturity value (or future value).
Finding the Present Value, Rate and For Present value (P), we have
Time in Simple Interest P = F / (1 + rt)
In finding the rate (r), the formula is
r = (F-P) / Pt
In computing number of years (t), use
t = (F-P) / Pr

Compound Interest The formula for compound interest (Ic) is

Ic = F– P
Where
Ic = compound interest
F = maturity (future) value
P = principal
Finding the Present Value at The formula in finding the present value.
Compound Interest P = F / (1+r) t
Finding the Maturity (FUTURE) Value in The maturity (future) value, compounding
Compound Interest m times a year can be computed using the
formula –
F= P (+j) n
F= P ( 1 + im/m) mt

Finding the Present Value in Compound Formula in finding the present value.
Interest P= F / (1+j)n

20
 What I Can Do

Solve the following:

1. Ben deposited Php6, 500 in a simple interest account that pays 2.8% interest
annually. If Ben leaves the money in the account for 12 years, how much
interest will he earn?
2. Steph took out a simple interest loan that charges 8.5% interest annually. If her
original loan amount was for Php30, 000 and she is paying off the loan over 20
years, how much will she pay altogether?
3. Derek deposited Php3, 000 in a simple interest account 3 years ago. He has
earned Php360 in interest so far. What is the interest rate for his account?
4. Clint earned Php1, 155 in interest from his simple interest account over the last
5 years. The account pays 1.25% interest annually. How much did Clint
originally deposit in his account?
5. Hector took out a small loan of Php900 for 18 months. The simple interest rate
on the loan was 10.5%. How much will he pay in interest on the loan?
6. If you deposit Php4000 into an account paying 6% annual interest
compounded quarterly, how much money will be in the account after 5 years?
7. If you deposit Php6500 into an account paying 8% annual interest
compounded monthly, how much money will be in the account after 7 years?
8. How much money would you need to deposit today at 9% annual interest
compounded monthly to have Php12000 in the account after 6 years?
9. If you deposit Php5000 into an account paying 6% annual interest
compounded monthly, how long until there is Php8000 in the account?
10. If you deposit Php8000 into an account paying 7% annual interest
compounded quarterly, how long until there is Php12400 in the account?

Assessment

Direction: Write the letter of the correct answer on the space provided before each
number.

1. Determine the simple interest to be paid by Stephen Karl if he borrowed

Php8,765 at 7 2/5% for 8months.
A. Php234.14 B. Php324.41 C. Php432.41 D. Php441.23
2. How much was borrowed by Ms. Gray if the interest she paid after 15 months at
10.5% simple interest is Php6, 420?
A. Php41, 948.29 B. Php44, 198.92 C. Php49, 149.92 D. Php48, 914.29

21
3. At what rate of interest did Alari invest the amount of Php56, 780.00 for it to
earn a simple interest of Php5, 555 for 4.75 years?
A. 2.65% B. 6.25% C. 2.06% D. 6.02%
4. How long should Sisi Rondina invest the amount of Php65, 120 to earn an
interest of Php5, 225.00 at 4 3/5 % simple interest?
A. 1.47 years B. 1.74 years C. 4.17 years D. 7.41 years
5. How much is the total amount would Mrs. Supremido receive if she invests
Php12, 890 for 1.75 years at 3 ½ % simple interest?
A. Php13, 679.51 B. Php 16, 379.15 C. Php 17, 936.15 D. Php 19, 763.51
6. Which of the following are NOT true?
i. Principal is the money given or paid invested in the origin data.
ii. Origin date is a date on which money is paid by the borrower.
iii. Interest is an amount paid or earned for the use of money.
iv. Simple interest is an interest that is computed on the principal and then
added to it.
A. I and II B. II and III C. III and IV D. II and IV
7. Analyze the two statements below.
Statement 1:Equivalent rates refer to two annual rates with different conversion
periods that will earn the same maturity value for the same time/term.
Statement 2: An effective rate is a rate when compounded annually will give the
same compound each year with the nominal rate.
A. Both statements are true
B. Both statements are false
C. Statement 1 is true but statement 2 is false
D. Statement 2 is true but statement 1 is false

For numbers 8 and 9, consider the statement below.

Ion Perez wants to invest an amount of Php36, 912 for 5.5 years at an interest
rate of 8 1/2 % compounded annually.

8. Find the maturity value (F).

A. Php51, 378.57 B. Php53, 718.75
C. Php57, 813.75 D. Php58, 731.57
9. Find the compound interest (Ic).
A. Php27, 090.15 B. Php21, 009.57
C. Php20, 901.75 D. Php29, 001.57
10. Oliver Almario invested Php102, 030 at 3 ¾% compounded annually. He plans
to get this amount after 60 months for his son’s 7th birthday. How much will he
get?
A. Php 120, 625.42 B. Php 122, 650.24
C. Php 165, 022.43 D. Php164, 502.21
11. Find the interest if Php87, 650 is deposited in a bank at 4.5%compounded
monthly for 36 months.
A. Php16, 234.23 B. Php12, 643.32
C. Php14, 263.23 D. Php13, 246.32
12. Kung Fu Reyes borrows Php 101, 010.00, and promises to pay the principal and
interest at 9 1/5 % compounded quarterly. How much must will he pay after 6
years and 3 months?
A. Php178, 342.65 B. Php176, 824.85
C. Php174, 628.58 D. Php172, 468.85
13. If money is worth 4 2/5 % compounded semi-annually, find the present value
of Php300, 300 due at the end of 3 years, and 6 months.
A. Php267, 886.69 B. Php257, 868.96
C. Php288, 567.96 D. Php286, 857.69

22
14. How long will it takes the amount of Php3, 690 to Php8, 910, if it is invested in
a bank at 5% compounded monthly?
A. 17.67 years B. 16.77 years C. 15.62 years D. 14.76 years
15. At what interest rate will Php1, 010 grow to an amount of Php2, 020 in 3 years
and 3months, if interest is compounded semi-annually?
A. 25.12% B. 24.41% C. 23.31% D. 22.51%
16. If interest is compounded quarterly, find the nominal rate which will yield an
effective rate of 3 ½ %.
A. 1.54% B. 2.35% C. 3.45% D. 4.53%
17. When interest is compounded monthly, find the effective rate corresponding to
the nominal rate of 4 %.
A. 3.02% B. 4.07% C. 5.05% D. 6.09%
18. Alden Richards is investing Php100, 000 at 10 % converted semi-annually for
10 years. At what rate compounded monthly he could have in investing his
money?
A. 9.8% B. 8.7% C. 7.6% D. 6.5%
19. If you are to invest Php110, 110.00 at 15% converted monthly for 9 years and 9
months, what simple interest rate could have, as well as your invested principal
for the same period of time?
A. 2.36% B. 3.36% C. 4.63% D. 5.63%
20. June Mar Fajardo plans to invest Php500, 000.00 at 5% simple interest for 30
months. At what interest compounded quarterly he could have, as well as his
investment for the same period of time?
A. 2.47% B. 3.74% C. 4.74% D. 5.47%

Additional Activities

Solve the problem analytically.

1. Find the interest on a used car loan of Php5000 at a rate of 16% for a period of
8 months.
2. Find the amount owed on an investment of Php10, 000 into a money market
account that pays a simple interest rate of 1.75% over a 39 week period.
3. How much should you deposit initially in an account paying 10% compounded
semi-annually in order to have Php1, 000, 000 in 30 years? b) compounded
monthly? c) compounded daily? d) continuous compounding

23
 24
What is It:
Enhancement Exercise 1
1. Php2, 250
2. Php11, 169.49
3. Php7, 575.75
Enhancement Exercise 2
1.
A. Php123, 835.78
B. Php482, 473.88
C. Php155, 384.40
2. Php103, 875
3. Php38, 500
Enhancement Exercise 3
a. 3.28 years
b. 15.66%
c. Php3, 630, 841.48
Enhancement Exercise 4
A1. Php6, 276.79
A2. Php486.79
B1. Php36, 152.17
What’s New: B2. Php362.17
Activity 2 -A C1. Php148, 177.81
1. True C2. Php12, 387.81
2. True Enhancement Exercise 5
3. False 1. Php516, 130.89
What’s In: 2. Php444, 236.21
What I Know: 4. False
ACTIVITY 1 3. Php629, 510.46
1. C 11. B 5. True Enhancement Exercise 6
1. SI B
2. D 12. A 1. F=Php494, 592.34
2. CI 1. I Ic=Php319, 342.34
3. C 13. B
3. SI 2. N 2. Php22, 787.47
4. B 14. C
4. SI 3. T 3. Php644, 336.67
5. A 15. D
5. CI 4. E Enhancement Exercise 7
6. D 1.
6. CI 5. R
7. D a. Php458, 360.36
7. CI 6. E
8. C b. Php388, 969.57
8. SI 7. S
9. C c. Php467, 633.16
9. CI 8. T
10. B 2. Php544, 389.39
10. CI
What’s More:
Activity 3
A. What I Can Do Assessment:
1. Php63 1. Php2,184 1. C 11. B
2. Php624 2. Php81, 000 2. D 12. A
3. Php390 3. 4% 3. C 13. B Additional Activities:
4. Php94.50 4. Php18, 480 4. B 14. A - depende sa sagot
5. Php18 5. Php141.75 5. A 15. D ng bata
B. 6. Php5, 387.42 6. A 16. C
1. Php740.12 7. Php11, 7. A 17. B
2 .Php851.11 358.24 8. C 18. A
3. Php950.08 8. Php7, 007.08 9. C 19. B
4. Php1, 979.22 9. 7.9 10. B 20. C
5. Php1, 209.52 10. 6.3
Answer Key
References

Phoenix (2016), Next Century Mathematics General Mathematics.

Vibal (2016), General Mathematics

Rex (2015), Math of Investment, Fifth Edition

25
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