GUIDE QUESTIONS General Instruction: 1. Supply the appropriate numerical values (whole nos. or decimal nos.) in each word problem before answering. 2. Word problems under Test 1 and 2 should be...

GUIDE QUESTIONS General Instruction: 1. Supply the appropriate numerical values (whole nos. or decimal nos.) in each word problem before answering. 2. Word problems under Test 1 and 2 should be answered using the Given, Find, and Solution Format. 3. FOR FINAL ANSWERS, decimal nos. that will exceed two decimal places should be rounded off to two decimal places. 4. Solutions may vary as well as the decimal numbers involved, you can round off in between solutions or you can just round off at the end of the solution. Just make sure that the values you use in your solution and your final answer are correlated. Test 1: Basic Concepts of Interest (Kindly identify if it is under simple interest or compound interest before answering) Test 1: Basic Concepts of Interest (Kindly identify if it is under simple interest or compound interest before answering) 1. Ivan borrowed Php ________ from Jonathan and another Php ________ from Rafael. Ivan paid them after ________ months. Jonathan is charging ________% interest while Rafael is charging ________% interest. Compute for the difference between the payments made for Jonathan and Rafael. 2. How much money should the parents of an ________ year-old child deposit in a savings account paying ________% compounded quarterly in order to provide the child with Php ________ at the age of ________?