Personal Financial Literacy Review
Authored by Whitney Wilson
Mathematics
8th Grade
CCSS covered
Used 2+ times
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17 questions
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1.
FILL IN THE BLANKS QUESTION
5 mins • 1 pt
An investment of $11,000 is made into an account that earns 4.25% annual compound interest for 30 months. Assuming no other deposits or withdrawals are made, how much INTEREST was earned? Remember to round to the nearest hundredths place.
(a)
Tags
CCSS.7.RP.A.3
2.
FILL IN THE BLANKS QUESTION
3 mins • 1 pt
An investment of $11,000 is made into an account that earns 4.25% annual compound interest for 30 months. Assuming no other deposits or withdrawals are made, what was the ENDING BALANCE in the account? Remember to round to the nearest hundredths place.
(a)
3.
FILL IN THE BLANKS QUESTION
3 mins • 1 pt
Nadia deposited $3000 into an account that earns annual simple interest. After 6 years, she had earned $990 in interest. What was the INTEREST RATE of the account?
(a)
Tags
CCSS.7.RP.A.3
4.
FILL IN THE BLANKS QUESTION
5 mins • 1 pt
Darryl made a deposit into an account that earns 7% annual compound interest. After 36 months, the value of the account was $1041.29. What was the approximate amount of Darryl's INITIAL DEPOSIT?
(a)
5.
MULTIPLE SELECT QUESTION
1 min • 1 pt
Simple interest is calculated on the _____ amount only. Select all that apply.
final
principle
withdrawn
deposited
Tags
CCSS.7.RP.A.3
6.
MULTIPLE SELECT QUESTION
1 min • 1 pt
Compound interest is calculated on the _____ amount plus any previous _____ earned. Select all that apply.
principle
debt
withdrawn
interest
Tags
CCSS.5.NBT.A.2
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Adrienne and her brother John each inherit $7000 that they use to open savings accounts with. Adrienne's account earns 4.7% annual compound interest and John's account earns 4.7% annual simple interest. Neither makes any additional deposits or withdrawals for 10 years. WHO'S ACCOUNT WILL BE WORTH MORE AT THE END OF THE 10 YEARS?
Adrienne
John
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