Business Math Chapter 3

Vanessa's checking account had a $862.35 balance. Later that day she used her debit card to pay $14.80 for gasoline and $156.94 for groceries. She also transferred $300 from her savings account to her checking account. What was the balance of her checking account at the end of the day?

• $975.81
• $990.61
• $690.61
• $833.67

Lebron's Bank Statement Shows a balance of $339.22. Checks outstanding are #656 for $42.98, #657 for $22.35, and #659 for $13.90. She also has a deposit of $460 outstanding. Reconcile Lebron's bank statement.

• $530.76
• $706.09
• $259.99
• $719.99

Beyonce Deposited $1,100 in a six month CD that pays 2.5% simple annual interest. How much did she earn at the end of the term?

• $137.50
• $13.75
• $1.37
• None

Cam Newton saves $800 and deposits the money in an account earning 4%annual interest compounded annually. How much will be in the account after 4 years?

• $935.89
• $925.73
• $1,037.48
• $893.22

A deposit slip lists these items: (bills) 8 fifties, 12 twenties, 19 tens, 20 fives; (coins) 24 dimes, 16 nickels, 80 pennies; (checks) $45.67, $99.12. The depositor received no cash back. what total deposit was made?

• $1065.49
• $1069.49
• $1074.79
• $1078.79

Maya Moore had $30,000 on deposit in a six month CD paying 4.25% simple annual interest. At the end of three months when she cashed out the CD, her penalty for early withdrawal was one month's interest. how much of a penalty did Maya have to pay?

• None
• $1,062.50
• $106.25
• $10.62

Donald Trumm had a balance of $1,245.88 in his checking account. He wrote checks for $58.90, $210.26, and $434.75. His deposits were $485 and $220.15. What was Donald's new balance after these transactions?

• $1,578.09
• $1,247.12
• $976.31
• $1,344.97

Find the effective interest rate to the nearest hundredth percent if $110.94 is earned in one year on a deposit of $775.

• 15.2%
• 14.3%
• 10.8%
• 12.6%