Directions: Determine which of the following situations illustrates simple or compound interest. Justify your answer. (3 points each problem; 1 for the answer and 2 for the justification) 1. Shirlee deposited a certain amount which is 89,632.37 in a bank peso bond fund which pays 1.0% interest to have P100,000.00 on her daughter's birthday. 2. Gail's father deposited in his bank account P10,000 at an annual interest of 5% which the future value is $18,000 after 12 years. 3. Justin borrowed P5,000 at 5% and decided to pay in 1 year and 3 months his 5,312.50. 4. A person borrowed P88,800 at an annual interest rate of 1044% for 18 months and pay his interest 13,653.
