Financial Literacy

Principal = $350.
Interest rate = 2.5%
TIme = 3 years.
How much simple interest?

• $7.50
• $26.25
• $87.5
• $262.50

Beyonce went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase.  The bank said that she could get a simple interest rate of 8% for 5 years.  What is the total amount that Beyonce will pay for the chair?

• $2600
• $910
• $9100
• $260

Tags

CCSS.HSF.BF.A.2

Tuition for Bubba Gump University costs $10,000 per year.  Forrest Gump would like to attend, and plans on saving for the next 2 years.  If he already has $4600 saved, what is the minimum amount needed to save per month to cover one year of tuition?

• $2700 per month
• $450 per month
• $225 per month
• $416.67 per month

Davy Crockett earned $10,000 from his raccoon skin hat company.  He deposited it into an account that earned 3% interest, compounded annually.  How much interest did he earn after 4 years?

• $11,255.09
• $1255.09
• $1200
• $11,200

Bilbo Baggins earned $475 from walking long distances last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

• $827.52
• $831.10
• $839.45
• $846.80

What is the mean absolute deviation of 13, 14, 17, 28, and 28?

• 6.4

• 8.6

• 4.6

• 6.3

Tags

CCSS.6.SP.A.3

CCSS.6.SP.B.5

Which is the correct Mean and Mean Absolute Deviation to the following numbers?

0, 0, 5, 6, 9 and 2

• Mean: 3.66

  MAD:3

• Mean: 3

  MAD:3.66

• Mean:3

  MAD:4

• None of the above

Tags

CCSS.7.EE.B.3

The simple interest formula is I=Prt.  The P represents the principal.  The principal is ___________________.  

• the amount of money borrowed or deposited
• the percent interest for his year
• the amount taxed
• the amount the bank owes you for being a customer at their bank

Carly

deposited $800 in an account that earns 6% compounded annually. Lara deposited

$800 in an account that earns 6% simple interest. How much will each girl have

in their account at the end of 10 years if they make no withdrawals or deposits?

• Carly: $1432.68 Lara: $1280

• Carly: $1444.89 Lara: $1280

• Carly: $1444.89 Lara: $1320

• Carly: $1432.68 Lara: $1320

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

When calculating

interest, how do you write the percent?

• a fraction

• a decimal

• a round number

• not enough information

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3