Savings Pre-Test

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

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

Tags

CCSS.7.RP.A.3

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

• Principle
• Interest
• Time, in hours
• Time, in years

Tags

CCSS.7.RP.A.3

Gilberto

invests $10,000 in a savings account that pays 4.75% simple interest. If Gilberto makes no withdrawals or deposits

to the account, how much will be in the account after 7 years?

• $3,325

• $13,325

• $13,838.16

• $13,000

Tags

CCSS.HSF.BF.A.2

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

• $12712.31
• $12,749.30
• $12,657.59
• $12550.84

A bank account that allows you to deposit/withdraw money at any time and earns interest is a

• money market fund

• money market deposit account

• regular savings account

• certificate of deposit

The ability to quickly turn an investment into cash is called

• liquidity

• rate of return

• inflation risk

• interest

The interest rate on a CD is __________ than that on a regular savings account.

• Lower

• Higher

• Same

• Does not earn interest