Ch. 5 Savings Account TEST

Ch. 5 Savings Account TEST

Assessment

Assessment

Created by

Flo SP

Mathematics

9th - 12th Grade

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14 questions

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1.

MULTIPLE CHOICE

15 mins • 1 pt

Alicia Martin’s savings account has a principal of $1,200. It earns 6% interest. How much simple interest will she earn after 9 months?

2.

MULTIPLE CHOICE

15 mins • 1 pt

Alicia Martin’s savings account has a principal of $1,200. It earns 6% interest compounded quarterly. How much compound interest will she earn after 9 months?

3.

MULTIPLE CHOICE

15 mins • 1 pt

Lena Castro’s bank computes 4 percent simple interest on a daily basis. She has $1,000 in the account. Ten days later, she makes a deposit of $600. 15 days later, she withdraws $400 and the balance earns interest for 6 days. What is the amount in the account at the end of the month?

4.

MULTIPLE CHOICE

15 mins • 1 pt

The Rosario’s opened a savings account with a deposit of $2,000 on January 1. The account pays interest at 4.75% compounded semi-annually. On July 1 they deposited another $2,000. What amount will they have in their account on July 1?

5.

MULTIPLE CHOICE

5 mins • 1 pt

This is the cost of using some other person's or bank's money.

6.

MULTIPLE CHOICE

15 mins • 1 pt

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

7.

MULTIPLE CHOICE

2 mins • 1 pt

Media Image

What happened on 7/5?

8.

MULTIPLE CHOICE

5 mins • 1 pt

Media Image

What should be written on line 2?

9.

MULTIPLE CHOICE

5 mins • 1 pt

Write the amounts in work form:

$65.29

10.

MULTIPLE CHOICE

15 mins • 1 pt

What is the total deposit for $324.75, 15 pennies, 8 nickels, 5 dimes and 3 quarters?

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