Quantitative Literacy Unit 1 Review
Authored by F Mueller
Mathematics
9th - 12th Grade
Used 11+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do you need to use to answer this question?
Suppose your goal is to have $1,000,000 in your account when you retire. If you are able to contribute $3,000 each year at the end of the year, and you expect a return of 6%, how long must you save for?
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Compound Interest Calculator
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Rule of 72
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2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do you need to use to answer this question?
The bank is offering a special on savings accounts by giving a rate of 8% compounded daily. You take advantage of this deal and deposit $1,500.00 into the bank. If you leave this money in the bank for 6 years, how much money will you have in the account?
TVM Calculator
Compound Interest Calculator
Continuously Compounded Interest Calculator
Rule of 72
Simple Interest Calculator
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do you need to use to answer this question?
The math department has some money that they want to put into savings so that they can earn interest. They have $314.15 to put into a savings account that compounds continuously at a rate of 9.26%. They would like to know how much money they would have in two years.
TVM Calculator
Compound Interest Calculator
Continuously Compounded Interest Calculator
Rule of 72
Simple Interest Calculator
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do you need to use to answer this question?
You decide to put $200 into a savings account that will earn 12%. How many times can you expect your money to double in 36 years? How much money will you have?
TVM Calculator
Compound Interest Calculator
Continuously Compounded Interest Calculator
Rule of 72
Simple Interest Calculator
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do you need to use to answer this question?
You decide to put $5,000 into a savings account that will earn 6%. Using the rule of 72, how many times can you expect your money to double in 36 years? How much money will you have?
TVM Calculator
Compound Interest Calculator
Continuously Compounded Interest Calculator
Rule of 72
Simple Interest Calculator
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do you need to use to answer this question?
Suppose you make annual deposits of $1500 at the beginning of each year, starting at age 21, earning an interest rate of 8% compounded annually. How much would you have when you retire at age 65? How much of the total was the money you paid in (capital) and how much was interest?
TVM Calculator
Compound Interest Calculator
Continuously Compounded Interest Calculator
Rule of 72
Simple Interest Calculator
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do you need to use to answer this question?
The math department has some money that they want to put into savings so that they can earn interest. They have $314.15 to put into a savings account that compounds continuously at a rate of 9.26%. They would like to use the money for their end of the year party, so how much would be in the account at the end of the school year (10 months)?
TVM Calculator
Compound Interest Calculator
Continuously Compounded Interest Calculator
Rule of 72
Simple Interest Calculator
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