How long will it take money to double itself if invested at 5% compounded annually ?

Related Mcqs:

1. What rate of interest compounded annually is the same as the rate of interest of 8% compounded quarterly ?

   A. 8.07 %
   B. 8.12 %
   C. 8.16 %
   D. 8.24 %

2. By the condition of a will, the sum of P20,000 is left to a girl to be held in trust fund by her guardian until it amounts to P50,000. When will the girl receive the money if fund invested at 8% compounded quarterly ?

   A. 11.23 years
   B. 11.46 years
   C. 11.57 years
   D. 11.87 years

3. Mandarin Bank advertises 9.5% account that yields 9.84% annually. Find how often the interest is compounded ?

   A. Monthly
   B. Bimonthly
   C. Quarterly
   D. Annually

4. A factory operator bought a diesel generator set for P 10,000.00 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8% interest compounded annually, that the final payment will cancel the debt for principal and interest. What is the annual payment ?

   A. P 2,500.57
   B. P 2,544.45
   C. P 2,540.56
   D. P 2,504.57

5. What is the present worth of a year annuity paying P 3,000.00 at the end of each year, with interest at 8% compounded annually ?

   A. P 7,654.04
   B. P 7,731.29
   C. P 7,420.89
   D. P 7,590.12

6. A man loans P 187,400 from a bank with interest at 5% compounded annually. He agrees to pay his obligations by paying 8 equal annual payments, the first being due at the end of 10 years. Find the annual payments ?

   A. P 43,600.10
   B. P 43,489.47
   C. P 43,263.91
   D. P 43,763.20

7. A person buys a piece of lot for P 100,000 downpayment and 10 deferred semi-annual payments of P 8,000 each, starting three years from now. What is the present value of the investment if the rate of interest is 12% compounded semi-annually ?

   A. P 142,999.08
   B. P 143,104.89
   C. P 142,189.67
   D. P 143,999.08

8. A man invested P110,000 for 31 days. The net interest after deducting 20% withholding tax is P890.36. Find the rate of return annually?

   A. 11.50 %
   B. 11.75 %
   C. 11.95 %
   D. 12.32 %

9. What refers to the cumulative effect of elapsed time on the money value of an event, based on the earning power of equivalent invested funds capital should or will earn ?

   A. Present worth factor
   B. Interest rate
   C. Time value of money
   D. Yield

10. What is used when a quick estimate of the doubling time for the invested money is needed ?

    A. Rule of 48
    B. Rule of 36
    C. Rule of 24
    D. Rule of 72