MAT 1160 Exam 1 Review
University
•15 Qs
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MAT 1160 Exam 1 Review
Quiz
•
Mathematics
•
University
•
Practice Problem
•
Medium
+6
Standards-aligned
Ronald Hoagland
Used 6+ times
FREE Resource
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15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Suppose you deposit $1500 into a savings account that has an interest rate of 3.75%. Find the account balance after 15 years if the interest is simple.
$2343.75
$2623.42
$2618.91
$2632.58
Tags
CCSS.HSF.BF.A.2
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Suppose you deposit $1500 into a savings account that has an interest rate of 3.75%. Find the account balance after 15 years if the interest is compounded semiannually.
$2343.75
$2623.42
$2618.91
$2632.58
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Suppose you deposit $1500 into a savings account that has an interest rate of 3.75%. Find the account balance after 15 years if the interest is compounded every four months.
$2343.75
$2623.42
$2618.91
$2632.58
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Suppose you deposit $1500 into a savings account that has an interest rate of 3.75%. Find the account balance after 15 years if the interest is compounded continuously.
$2343.75
$2623.42
$2618.91
$2632.58
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Brynn takes out a 7% simple interest loan today that will be repaid 15 months from now with a payoff amount of $815.63. What amount is she borrowing?
$397.87
$887.00
$1672.04
$750.00
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
You take out a loan of $2450, agreeing to pay it back over 30 months at 4.6% add-on interest. What is the monthly payment for this loan?
$5831.00
$2731.75
$91.06
$194.37
Tags
CCSS.HSF.BF.A.2
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
For #38 on p. 749, find the average daily balance.
$500.51
$515.51
$517.19
$505.01
Tags
CCSS.6.NS.B.3
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