Interest - Mini Survey
Interest - Mini Survey
Interest - Mini Survey
General Mathematics
Task:
With the help of your parents, relatives or neighbors who engaged in money lending, investing or
saving in a bank or cooperatives, you are going to conduct a survey to at least 5 investors/borrowers
and gather the following data (stated below) and compare which bank/cooperative has a good
offer when it comes to saving and lending. In a short bond paper, tabulate your data and interpret
the result of your survey.
a. name of the bank/cooperative
b. amount of money borrowed/saved,
c. the interest rates offered in a bank/cooperatives
d. maturity date given
e. compute the maturity value and the interest amount at the end of the period.
Name of the Amount of money The interest rates Maturity date Computation of
bank/cooperative borrowed/saved, offered in a given the maturity value
bank/cooperatives and the interest
amount at the
end of the period.
Guide Questions:
1. If you were to borrow money from a bank or cooperative, which of the following
bank/cooperative you have listed will you choose? Why?
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2. What factors would you consider when choosing bank/cooperative to save your money or borrow
money from?
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3. What are the possible danger in engaging in money lending, especially those which are not
sanctioned and monitored by the government? (ex. 5-6 scheme)
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