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- 1. 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 annually. What will be his balance after 15 years?$827.52 (Mr. Williams)$831.10 (Mrs. Hoch)$839.45 (Mr. Krajunus)$846.80 (Ms. Palombo)
- 2. Multiple ChoiceEmily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually,what will be the balance after 18 years?$6,273.50 frustrated$6,314.08 bewildered$6,385.72 pleased$6,427.94 tickled pink
- 3. 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 playing dodgeball$33,672.68 climbing trees$34,157.04 riding unicycles$34,710.88 flipping pancakes
- 4. 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 LeBron James$15,683.28 Chase Utley$15,927.56 Serena Williams$16,349.72 Tom Brady
- 5. 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 interest will they have paid after 30 years?$412,749.79 Labor Day$429,305.61 the 4th of July$471,259.24 Groundhog Day$494,546.99 Valentine’s Day
- 6. 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 interest will she earn in 10 years?$915.59 Rome$933.28 Sydney$979.81 Dublin$1,005.09 Paris
- 7. Multiple ChoiceRiley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually,how much interest will Riley earn in 15 years?$1,584.62 the train station$1,651.39 the movie theater$1,706.86 the art museum$1,893.45 the bakery
- 8. Multiple ChoiceTown Bank offers a 2.25% interest rate, while Charter One offers 2.8%. Both banks compound interest annually. If Rob wants to set up a new account with $5,000,how much more money will he earn at Charter One over Town Bank after 25 years?$1,183.41 fairy wings$1,209.79 space suits$1,251.63 bubble wrap$1,324.10 hula skirts
- 9. Multiple ChoiceTwelve years ago, Claire put $1,800 in an account that pays an interest rate of 2.5% compounded semiannually.She now plans to take the money in that account and invest it in another account that earns 4% interest compounded monthly. How much money will be in this new account after 7 years?$3,207.40 eating ice cream$3,348.96 chewing gum$3,574.15 telling math jokes$3,733.62 tap dancing
- 10. Multiple ChoiceShawn is buying a new Jet Ski for $12,500. He is considering two credit options. Option A offers a 6 year loan with 8.5% interest compounded quarterly, while Option B offers a 5 year loan with 10% interest compounded annually. Which is the better option and how much will he save?B; $573.83 do something crazyB; $495.21 get on the newsA; $573.83 get attentionA; $495.21 raise money for charity
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