Unit 3: Checking and Savings Accounts Test

What is the term for the fee paid for borrowing money from a lender or financial institution?

• Interest

• Deposit

• Loan

• Balance

Tags

NY.MA.NY-7.RP.3

At the start of this month, Maria's checking account had a balance of $825.50. During the month, she received a direct deposit paycheck of $1,120.75, paid a monthly maintenance fee of $18.00, made a debit card purchase of $95.60, wrote a check for $210.40 that has already cleared, and deposited a check she received for $54.35. What is Maria's current checking account balance?

• $1677.00

• $1676.60

• $1677.50

• $1676.00

Tags

CCSS.7.NS.A.3

June Russell, who has a checking account at Gravy Train Bank, is writing a check to Stanley Lawrence, who has a checking account at Chunk a Change Bank. What should be written on the "Pay to the order of" line of the check?

• Chunk a Change Bank
• Gravy Train Bank
• June Russell
• Stanley Lawrence

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Enrico wrote four checks last month, and these were the only transactions for his checking account. According to his check register, his balance is $893.48, but the bank statement he just received says his balance is $1076.32. If the four checks were for $173.75, $173.84, $182.75, and $182.84, the check for which amount has not yet cleared?

• $173.75
• $173.84
• $182.75
• $182.84

Tags

CCSS.6.NS.B.3

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time
• Percent Rate

Tags

CCSS.7.RP.A.3

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.RP.A.3

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150
• $192
• $1350
• $1392

Tags

CCSS.7.RP.A.3

You lend $300 to your friend.  He pays you back $330.  What interest rate did you charge your friend?

• 15%

• 10%

• 12%

• 20%

Tags

CCSS.6.RP.A.3C

JoJo the Dancing Clown invests $800 in a savings account, compounded quarterly, at an annual interest rate of 3%. How much money will he have at the end of one year?

• $824.27

• $24.00

• $809.06

• $832.73

$400 dollars was deposited in an account. Find the interest paid on the deposit, compounded semiannually, at a rate of 2% for 10 years

• $88.07

• $480.01

• $572.36

• $2.02