Spring Test: Credits and Natural Logarithm

Solve each equation. Round your answers to the nearest ten-thousandth.

• A

• B

• C

• D

Solve each equation. Round your answers to the nearest ten-thousandth.

• A

• B

• C

• D

Solve the equation. Round your answers to the nearest ten-thousandth.

• A

• B

• C

• D

Solve the equation. Round your answers to the nearest ten-thousandth.

• A

• B

• C

• D

Solve the equation. Round your answers to the nearest ten-thousandth.

• A

• B

• C

• D

Maria wants to borrow $17,000 from Bank of America. They offered her a 5-year loan with an APR of 6.5%. How much will she pay in interest over the life of the loan?

• $332.62

• $1,895,31

• $348.85

• $2,957.47

Tags

CCSS.HSF.BF.A.2

Amanda wants to borrow $25,000. Her bank offers a 7.5% interest rate. She can only afford $550 a month for loan payments. What should be the length of her loan to the nearest tenth of a year?

• 3.8 years

• 3.2 years

• 5.1 years

• 4.5 years

Marco had these daily balances on his credit card for his last billing period. He did not pay the card in full the previous month, so he will have to pay a finance charge. The APR is 22.45%. Calculate his average daily balance.

seven days @ $525.45

twelve days @ $1,451.00

nine days @ $2,752.50

three days @ $2,500.11

• $1,721.39

• $53,362.98

• $2,337.91

• $1,580.78

Tags

CCSS.6.NS.B.3

Mary’s average daily balance for last month was $750. The finance charge was $12.24. What was the APR?

• 0.0163%

• 19.6%

• 1.63%

• 0.196%

Hannah did not pay her American Express credit card bill in full in May. Her June bill showed a finance charge, and she wants to see whether or not it is correct. The average daily balance is $1,359.25, and the APR is 22.2%. Find the finance charge for her June statement.

• $301.75

• $19.57

• $25.15

• $403.97

Tags

CCSS.7.RP.A.3