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- 1. Multiple Choice
David
invests $10,000 in a savings account that pays 3.5% simple interest. If David
makes no withdrawals or deposits to the account, how much will be in the
account after 7 years.
$2,450
$11,750
$12,450
Not here
- 2. Multiple Choice
Garrison
deposited $500 in an account that earns 5% annual interest compounded annually. If he makes no withdrawals or deposits, how
much interest will the account earn after 4 years?
$600
$100
$607.75
$107.75
- 3. Multiple Choice
Audrey deposited $2,800 in a
savings account that pays 2.65% interest compounded annually. What is the total
value of the account after 7 years?
$562.57
$3362.57
$14,514.15
$2,569,680
- 4. Multiple ChoiceJerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?$800$1,000$1,200$1,500
- 5. Multiple Choice
The simple interest formula is I=Prt. What does the t represent?
Principle
Interest
Time
Percent Rate
- 6. Multiple Choice
Write the percent as a decimal.
4.3%4.3.43.0434300 - 7. Multiple ChoiceWhat does the "I" in the interest formula stand for?ImportantInterestInternetIgloo
- 8. 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 year?$827.52$831.10$839.45$846.80
- 9. Multiple Choice
The compound interest formula is:
A = P(1 + r)t
What does the A represent?
The amount of interest earned.
The amount of time that has passed.
The total amount of money after a certain amount of time.
The amount required to invest.
- 10. Multiple Choice
If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?
$1,225,54
$2,100.34
$22,255.40
$225.54
- 11. Multiple Choice
the time has to be in _____________
years
months
days
seconds
- 12. Multiple ChoiceA bank is offering 7% annual compound interest on a savings account. If you deposit $1,500, what will be the total amount of money in your savings account after three years?$337.56$1837.56$31500$30000
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