Financial Literacy Test
Authored by Robert Innis
Mathematics
7th - 10th Grade
CCSS covered
Used 5+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
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?
Tags
CCSS.HSF.BF.A.2
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Jimmy Neutron borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If you are calculating the simple interest and you are given the time in months, how can you find the time in years?
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
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?
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The compound interest formula is:
A = P(1 + r)t
What does the A represent?
Tags
CCSS.HSF-IF.C.8B
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
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?
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
Tags
CCSS.7.RP.A.3
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