Financial Algebra Chapter 2 Quiz 2

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.HSA.REI.A.1

CCSS.HSA.REI.B.3

CCSS.HSF.LE.A.1

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.CED.A.4

CCSS.HSA.REI.B.3

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.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

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.HSA.SSE.A.1

CCSS.HSF.LE.A.1

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.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

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.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

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.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

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

• $66.86

• $3,632.48

• $3565.63

• $69.42

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

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

• $3,632.48

• $65.63

• $66.86

• $68.11

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

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

• $3,700.59

• $68.11

• $3,632.48

• $66.86

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2