FA Ch 2 Test Review

FA Ch 2 Test Review

Assessment

Assessment

Created by

Jessica Passmore

12th Grade

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19 questions

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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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