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Financial Algebra Chapter 2 Quiz 2

Authored by Luke Marvulli

Mathematics

12th Grade

CCSS covered

Used 56+ times

Financial Algebra Chapter 2 Quiz 2
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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How long does it take $450 to double at a simple interest rate of 14%

7.14 years
14.28 years
3.57 years
5.28 years

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.REI.A.1

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What interest rate is needed for $9,500 to earn $900 in 19 months? Round to the neareset tenths of a percent.

5.45%
6%
.06%
6.8%

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.CED.A.4

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Pierre deposits $9,000 in a CD that pays 8% interest, compounded semiannually. How much interest does the account earn in the first 6 months?

$720
$360
$180
$9,720

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.2

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Luara deposits $2,000 in an account that has an annual interest rate of 3.96%, compounded monthly. How much interest will earn at the end of 1 month?

$ .33 
$ 6.60
$ 3.30
$ 4.20

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSA.SSE.A.1

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Liam deposits $3,500 into a savings account that pays 7.5% interest, compounded Quarterly. Find the 1st quarter interest

$65.63

$72.35

$3,563.63

$68.12

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.BF.A.1

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Liam deposits $3,500 into a savings account that pays 7.5% interest, compounded Quarterly. Find the 1st quarter's ending balance

$65.63

$3,565.63

$3,283.12

$69.48

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.BF.A.1

CCSS.HSA.SSE.B.4

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Liam deposits $3,500 into a savings account that pays 7.5% interest, compounded Quarterly. Find the 2nd quarter's interest.

$3,565.63

$92.45

$66.86

$65.63

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.BF.A.1

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