Financial Algebra - Final Exam Review

The process of balancing your check register with the bank's statement is called ___________

• removing
• recommending
• reconciling
• renovating

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Angelica Walker has a checking account with MSEFCU. Her balance in the beginning of the month was $2,195.65. during the month, she made deposits totaling $1,873.22, wrote checks totaling c dollars, was charged a maintenance fee of $15, and earned $5.05 in interest. Her balance at the end of the month was $3,200. Was is the value of c?

• $1,262.58

• $2,262.58

• $858.92

• $888.92

Tags

CCSS.7.NS.A.3

Jonah Benavides has a job at patient care first in Modesto. He deposited a $865.98 paycheck, a $60 bonus check, and an $18 check from his grandma into his account. His original balance was $476.02. Assuming the checks clear, how much will be in his account after the deposit is made?

• $1,420.00

• $1,283.98

• $476.96

• $1,538.62

Tags

CCSS.6.NS.B.3

Monique Garcia had $463.24 in her checking account, and a check that she wrote to her landlord for $470.00 was just deposited.

This will result in which of the following fees?

• overdraft fees

• service fees

• atm fees

• None of the above

Tags

CCSS.7.EE.B.3

What interest rate is needed for $9,500 to earn $900 in 19 months? HINT: Convert 19 months to years. Round to the nearest tenth of a percent. Use the formula: r = P/(It)

• 5.45%

• 6.7%

• .06%

• .05%

How long does it take $450 to earn $450 at a simple interest rate of 14%. Use the formula t = P/(Ir)

• 7.14 years

• 14.28 years

• 3.57 years

• 5.28 years

Tags

CCSS.6.EE.B.7

At the beginning of this month, the balance of Vance's checking account was $500. So far this month, he has received a paycheck via direct deposit of $950, been charged a monthly service fee from his bank of $25, used a debit card linked to his account to make a purchase of $45, written a check for $94.65, and deposited a check written to him for $57.24. What is the current balance of Vance's checking account?

• $1620.38
• $1228.11
• $1342.59
• $787.10

Tags

CCSS.7.NS.A.3

The checking account fees for Banks A, B, C, and D are shown in the table:
If a customer writes 21 checks per month, which bank will charge him the most in fees?

• Bank A
• Bank B
• Bank C
• Bank D

Tags

CCSS.8.F.A.2

CCSS.HSF.IF.C.9

Which of the following is the definition of available credit?

• The difference between the maximum amount you can owe and the actual amount you owe on a credit card.

• The maximum amount that a credit card holder can owe on a credit card at one time.

• The cost of using a credit card for the current billing period.

• A purchase, cash advance, balance transfer, or payment made using a credit card.

Tags

CCSS.7.RP.A.3

A person who has a good personal credit record is generally charged a lower interest rate when he applies for a loan.

• True

• False

Tags

CCSS.7.RP.A.3