Have an account?
Skip to Content
Build your own quiz
Suggestions for you
20 questions
Show Answers
See Preview
- 1. Multiple Choice
Lane 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
$831.10
$839.45
$846.80
- 2. Multiple Choice
Isobella’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
$6,314.08
$6,385.72
$6,427.94
- 3. Multiple Choice
Jack 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
$34,710.88
- 4. Multiple Choice
Thalia 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
$16,349.72
- 5. Multiple Choice
Jacob took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much interest will he have paid after 30 years?
$412,749.79
$429,305.61
$471,259.27
$494,546.99
- 6. Multiple Choice
Maddy 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
$933.28
$979.81
$1,005.09
- 7. Multiple Choice
Jay 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
$1,651.39
$1,706.86
$1,893.45
- 8. Multiple Choice
Town Bank offers a 2.25% interest rate, while Charter One offers 2.8%. Both banks compound interest annually. If Jacob 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
$1,209.79
$1,251.63
$1,324.10
- 9. Multiple Choice
Twelve years ago, Scarlett 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
$3,348.96
$3,574.15
$3,733.62
- 10. Multiple Choice
Ebony is buying a new Jet Ski for $12,500. She 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 she save?
B; $573.83
B; $495.21
A; $573.83
A; $495.21
- 11. Multiple ChoiceYour 3 year investment of $20,000 received 5.2% interest compounded annually. What is your total return?$23,285.05$3,285.05$2,385$32,285
- 12. Multiple Choice
Ashliegh borrowed $59,000 for 2 years at 11% which was compounded annually. What total will she pay back?
$13,693.90
$1,363.90
$72,693.90
$73,793.90
- 13. Multiple ChoiceYour 6 year investment of $40,000 at 14% interest compounded annually is worth how much now?$47,798.90$87,798.90$127,798$7,798
- 14. Multiple ChoiceSemi-Annually means how many times a year?4216
- 15. Multiple ChoiceChange 6.75% to a decimal.67.5.675675.0675
- 16. Multiple ChoicePrincipal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.$12712.31$12,749.30$12,657.59$12550.84 - 17. Multiple ChoiceMonthly means how many times a year?41252365
- 18. Multiple Choice
Shayna'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
- 19. Multiple Choice
Ervin borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
$800
$1,000
$1,200
$1,500
- 20. Multiple Choice
Zara borrowed $3,500 for 3 years at 7½% simple interest rate.
How much interest is that?
Julie borrowed $3,500 for 3 years at 7½% simple interest rate.
How much interest is that?
$787.50
$810
$812.50
- Answer choicesTagsAnswer choicesTags