SAN JOSE NATIONAL HIGH SCHOOL

NAME:

SECTION:

1. What is referred to as a fixed sum of money paid to someone at regular intervals, subject
to a fixed compound interest rate?
A annuity B annuity certain

C compound interest D simple interest

2. What type of annuity is illustrated when the interest conversion or compounding period is
equal or the same as the payment interval?

A annuity certain B general annuity

C annuity uncertain D simple annuity

3. What type of annuity is illustrated when the interest conversion or compounding period is
unequal or not the same as the payment interval?

A general annuity B simple annuity

C annuity certain D annuity uncertain

4. What do you call the fixed payment and interest over a specified time?

A interest payment B annuity payment

C general payment D due payment

5. Which is an example of annuities?

A rent B savings

C bills D interest

6. Which of the following situations is an example of a simple annuity?

₱ 2,000 deposited every six months for ₱ 2,000

C
 ₱ 2,000 deposited every month for 2 years at 8% per year compounded monthly
D ₱ 2,000 deposited every month for 2 years at 8% per year compounded annually
 Gen. Math 2nd Quarter Summative Test S.Y 2021-2022

7. Which of the following situations is an example of a general annuity?

₱ 5,000 deposited every year for 5 years ₱ 5,000 deposited every month for 5 years
A B
at 8% per year compounded annually at 8% per year compounded annually

₱ 5,000 deposited every six months for ₱ 5,000 deposited every three months for
C 5 years at 8% per year compounded D 5 years at 8% per year compounded
semi- annually quarterly

8.

A 5% B 0.5%

C 0.05% D 1.05%

9.

A 5 years B 1000 years

C 6 years D 4 years

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 Gen. Math 2nd Quarter Summative Test S.Y 2021-2022

10.

A ₱ 5,455.82 B ₱ 5,000

C ₱ 5,525.63 D ₱ 5,225.36

11. What is do you call a sequence of payments made at equal (fixed) intervals or periods
of time?

A Loan B Annuity

C Interest D Amortization

12. What do you call a sum of future values of all payments to be made during the entire
term of the annuity

A Amount (Future Value) of an Annuity B Interest

C General Annuity D Regular or Periodic Payment

13. It is the sum of all present values of all the payments to be made during the entire
term of the annuity

A Time of an Annuity B Periodic Payment

C Present Value of an annuity D Future Value of an annuity

14. Find the future value of an ordinary annuity with a regular payment of P1,000 AT 5%
interest rate compounded quarterly for 3 years.

A P12,806.63 B P12,806.36

C P12,860.63 D P12,860.36

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 Gen. Math 2nd Quarter Summative Test S.Y 2021-2022

15. Find the present value of an ordinary annuity with regular quarterly payments worth P1,000
at 3% annual interest rate compounded quarterly at the end of 4 years.

A P15,402.31 B P15,204.31

C P15,420.31 D P15,024.31

16. It is refers to a single amount that is equivalent to the value of the payment
stream that shall date.

A Fair market value B Future Value of a general annuity

C Periodic Payment D Present Value of a general annuity

17. A teacher saves P5,000 every 6 months in the bank that pays 0.25% compounded
monthly. How much will be her savings after 10 years?

A P101,791.06 B P101,971.06

C P101,197.06 D P101,179.06

18. Melvin availed of a loan from a bank that gave him an option to pay P20,000 monthly for 2
years . The first payment is due after 4 months. How much is the present value of the
loan if the interest rate is 10% converted monthly?

A P422,795.78 B P422,759.78

C P422,597.78 D P422,579.78

19. Annual payments of P2,500 for 24 years that will start 12 years from now. What is the
period of deferral in the deferred annuity?

A 10 periods B 11 periods

C 12 periods D 13 periods

20. Semi-annual payments of P6,000 for 13 years that will start 4 years from now. What
is the period of deferral in the deferred annuity?

A 8 semi-annual intervals B 5 semi-annual intervals

C 6 semi-annual intervals D 7 semi-annual intervals

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 Gen. Math 2nd Quarter Summative Test S.Y 2021-2022

Answer Key

1. a 2. d 3. a 4. b

5. a 6. b 7. c 8. c

9. d 10. b 11. c 12. b

13. a 14. a 15. c 16. b

17. a 18. c 19. d 20. d

21. a 22. c 23. b 24. b

25. a

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