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- 1. Multiple ChoiceFind the total amount in the account to the nearest cent if the interest is compounded annually.
$2750 at 8% for 2 years$220$440$660 - 2. Multiple ChoiceThe simple interest formula is A(t)=Pert. What does the t represent?PrincipleInterestTimePercent Rate
- 3. Multiple ChoiceStarting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much in simple interest interest?$377.50$376.25$387.5$262.50 - 4. Multiple ChoiceIn the interest formulas. The P represents the principle. The principle is ___________________.the amount of money borrowed or depositedthe percent interest for his yearthe amount taxedthe amount the bank owes you for being a customer at their bank
- 5. Multiple ChoiceEmilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?$150$192$1350$1392
- 6. Multiple ChoiceBeyonce went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Beyonce will pay for the chair?$2600$910$9100$260
- 7. Multiple ChoiceI = Prt where r represents the rate. Rates must be converted into ____ before multiplying.fractionsmixed numbersdecimals
- 8. Multiple ChoiceJimmy invested $200 in a retirement account that had a rate of 20% that compounds yearly. If Jimmy leaves his money puts the money in when he is 24 and takes it out when he is 64, how much money will be in his account rounded to the nearest dollar?$29395$293954.31$293954
- 9. Multiple ChoiceCaiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded quarterly. What will be his balance after 15 year?$827.52$837.67$839.45$846.80
- 10. Multiple ChoiceEmily's parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semi-annually, what will be the balance after 18 years?$6,273.50$6,314.08$6,385.72$6,427.94
- 11. Multiple ChoiceMark took a loan out for $25,690 to purchase a truck. At an interest rate of 5.2% compounded monthly, how much total will he have paid after 5 years.$33,299.42$33,672.68$34,157.04$34,389.55
- 12. Multiple ChoiceOlivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years.$15,415.94$15,683.28$15,927.56$16,109.05
- 13. Multiple ChoiceThe Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much total will they have paid after 30 years?$412,749.79$529.305.61$689,546.99$640,891.53
- 14. Multiple ChoiceKennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she earn in 10 years?$4915.59$3933.28$2979.81$4005.09
- 15. Multiple ChoiceRiley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?$1,584.62$2,651.39$2,706.86$1,825.10
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