Simple and Compound Interest
Quiz
•
University
•
Practice Problem
•
Medium
Standards-aligned
Harmony Richman
Used 13+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the maturity value for a $3000 loan at 5.8% interest for 100 days.
$3,048.33
$2,000.50
$750.33
$3901.22
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the interest rate if $5,000 is borrowed, and $5,243.75 is paid back 9 months later.
6.5%
5.5%
0.065%
0.055%
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the amount of interest earned by a deposit of $1,600 for 7 years at 4.2% compounded monthly.
$545.75
$525.50
$500.75
$625.50
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the annual interest rate if $6,500 is worth $8,665.69 after being invested for 8 years in an account that compounded interest monthly.
3.6%
0.036%
2.8%
3.65%
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the effective rate for an account that pays 2.6% compounded monthly.
2.73%
1.0273%
0.0273%
1.98%
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Find the present value of $10,000 in 7 years if money cam be deposited at 4.25% compounded quarterly.
$7438.39
$7500.42
$7225.84
$7993,54
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Find the time needed for $3,800 deposited at 3.5% compounded semiannually to be worth at least $7,000.
18 years
19 years
17 years
16 years
Tags
CCSS.HSF.LE.A.4
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