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General
Mathematics
Activity 1:
Situation: Go to various bank and determine the interest rate on their savings or time
deposit accounts.
Activity 2:
Situation: Find a cooperative in your community and ask about its interest rates.
Activity 3:
Situation: Interview a real state agent, vehicle dealer or someone buho sells installment get
a sample of a quotation for what they are selling.
Activity 4:
Situation: Based on your research, experiment with various investments (e.g. 1,000 or
5,000 or some other amount). How much will the investment to be worth of the 10 years? 20
years?
Q1. Go to various bank and determine the interest rate on their savings or time deposit accounts.
Sources: COOPERATIVE BANK (COOP-PINGKIAN COMMUNITY DEVELOPMENT
COOPERATIVE (PCDC)
The interest rate is 3% up to 5%, and their savings or time deposit accounts is 5,000.00.
If a bank offers 3% interest rate and invested an amount of 5,000 the amount to be worth after
10 years is 6,500 while in 20 years is 8,000.
If the interest rate is 5% the amount of 5,000 after 10 years is 2,500 while in 20 years the
amount is 5,000.00.
Summary of the answers:
* Interest rate: 3% * Interest rate: 5%
Q2. Find a cooperative in your community and ask about its interest rates.
Question: How much you will be charged if you want to loan 15,000.00 to be paid by monthly?
Q3. Interview a real state agent, vehicle dealer or someone buho sells installment get a sample of
a quotation for what they are selling.
Following questions are:
*If you know someone borrowing from a money tender, you can ask how much you will be charged
if you want to loan 1,000, payable in 1 year. [one common non-formal lending practice in
Philippines is called five-six].
*In our survey the appliances costs 13,000 can be paid 6 monthly payments of 2,196, then the
formula 13000 = 2196 1 (1tj) 6 must be satisfied.
j
Experiment with the different values for j to determine the interest rate for the period, and the
annual rate.