FA Ch 2 Test Review

Assessment
•
Jessica Passmore
•
12th Grade
•
37 plays
•
Easy
Student preview

19 questions
Show all answers
1.
MULTIPLE CHOICE
2 mins • Ungraded
3. Find the simple interest on a $2,219.00 principal, deposited for six years at a rate of 1.91%.
2.
MULTIPLE CHOICE
2 mins • Ungraded
6a. Ralph deposited $910 in an account that pays 1.75% simple interest, for three years.
How much interest did the account earn?
3.
MULTIPLE CHOICE
2 mins • Ungraded
6b. Ralph deposited $910 in an account that pays 1.75% simple interest, for three years.
What is the ending balance?
4.
MULTIPLE CHOICE
2 mins • Ungraded
6c. Ralph deposited $910 in an account that pays 1.75% simple interest, for three years.
How much interest did the account earn the first year?
5.
MULTIPLE CHOICE
2 mins • Ungraded
8a. Rhonda deposits $5,600 in a savings account that pays 1 1/2% interest, compounded semiannually.
How much interest does the account earn in the first six months?
6.
MULTIPLE CHOICE
2 mins • Ungraded
8b. Rhonda deposits $5,600 in a savings account that pays 1 1/2% interest, compounded semiannually.
What is the ending balance after six months?
7.
MULTIPLE CHOICE
2 mins • Ungraded
8c. Rhonda deposits $5,600 in a savings account that pays 1 1/2% interest, compounded semiannually.
How much interest does the account earn in the second six months?
8.
MULTIPLE CHOICE
2 mins • Ungraded
8d. Rhonda deposits $5,600 in a savings account that pays 1 1/2% interest, compounded semiannually.
What is the balance after one year?
9.
MULTIPLE CHOICE
2 mins • Ungraded
8e. Rhonda deposits $5,600 in a savings account that pays 1 1/2% interest, compounded semiannually.
How much interest does the account earn the first year?
10.
MULTIPLE CHOICE
2 mins • Ungraded
9. Rebecca opened a savings account on March 20, with a $5,200 deposit. The account pays 3.99% interest, compounded daily. On March 21 she made a $700 deposit, and on March 22 she made a $500 withdrawal. Use this information to find the missing amounts.
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