Ch. 5 Savings Account TEST

Quiz
•
Mathematics
•
9th - 12th Grade
•
Medium
+1
Standards-aligned
Flo SP
Used 8+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Alicia Martin’s savings account has a principal of $1,200. It earns 6% interest. How much simple interest will she earn after 9 months?
$36.00
$1,236.27
$1,254.81
$54.00
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Alicia Martin’s savings account has a principal of $1,200. It earns 6% interest compounded quarterly. How much compound interest will she earn after 9 months?
$54.81
$54.80
$1254.81
$1254.80
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Lena Castro’s bank computes 4 percent simple interest on a daily basis. She has $1,000 in the account. Ten days later, she makes a deposit of $600. 15 days later, she withdraws $400 and the balance earns interest for 6 days. What is the amount in the account at the end of the month?
$1,204.52
$1,204.53
$1,204.51
None of the above
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
The Rosario’s opened a savings account with a deposit of $2,000 on January 1. The account pays interest at 4.75% compounded semi-annually. On July 1 they deposited another $2,000. What amount will they have in their account on July 1?
$2,047.50
$4,047.49
$4,047.50
$2,047.29
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Tags
CCSS.5.NF.B.5B
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Interest rate = 2.5%
TIme = 3 years.
How much interest?
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Tags
CCSS.6.NS.C.7C
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