SLIDES - FInancial Literacy

Open Ended

If you were to set aside $250 each month for savings, how much money will you have saved after 8 months?

Open Ended

Mateo put $2,750 into a retirement account 7 years ago. The account earns 3.25% simple annual interest. He made no additional deposits or withdrawals.

What is the balance in Mateo's account at the end of these 7 years?
Round your answer to the nearest cent.

Multiple Choice

Lucia deposits $4,500 into a retirement account that earns 2.75% interest compounded annually. She doesn't deposit or withdraw money from the account after the initial deposit.

How much interest will Lucia earn at the end of 10 years?

Round your answer to the nearest cent.

• 1500.75
• 1402.43

• 1800.00
• 1200.50

Multiple Choice

Emma deposits $1,500 in a savings account with an annual interest rate of 8%. How much money will she have in 10 years, if the interest is compounded daily?. 

• $3,338.02

• $2,700

• $3,238.39 

• $3,100.00

Multiple Choice

THINK-PAIR-SHARE

Li Min deposits $2,500 into each of two savings accounts.

• Account I earns 3.9% annual simple interest.

• Account II earns 3.9% interest compounded annually.

Li Min does not make any additional deposits or withdrawals.

low much more interest will Li Min earn by the end of 3 years in account II

than in account I?

• $5.00
• $15.00
• $12.00
• $9.00

Multiple Choice

SAVINGS: If $10,000 is deposited into a savings account that pays 1.8% annual interest, how much more would the account be worth if interest were compounded monthly rather than annually over a period of 30 years? Round to the nearest dollar.

• 75

• 25

• 35

• 45

Fill in the Blanks

T.J. invests $8,100 in an account that earns 7.2% compound interest. If T.J. does not make any additional deposits or withdrawals, how much interest will he earn after 7 years?

Fill in the Blanks

Mr. Jenkins deposited $1,250 into an account. He made no additional deposits or withdrawals. Mr. Jenkins earned 4.25% annual simple interest on the money in the account.

What was the balance in dollars and cents Mr. Jenkins's account at the end of 4 years?

Multiple Choice

Monica is depositing $6,000 into a savings with an interest rate of 4.25% for 8 years. How much more interest will she earn if the interest is compounded annually, as opposed to simple interest?   

• $2040.00
• $2370.66
• $330.66
• $5669.34

Fill in the Blanks

Mr. LaTour invests $20,000 in an account that earns 10% interest that compounds annually.

Mrs. Murphy invested $20,000 in an account that earns 10% interest that compounds monthly.

How much more money will Mrs. Murphy have at the end of 20 years.

round each answer to the nearest dollar and subtract

Write your answer without $ or ,