Fall ACP Full Review Quiz

• 1462.5

• 2641

• 146

• 14

• A / F

• B / G

• C / H

• D / J

• A / F

• B / G

• C / H

• D / J

• A / F

• B / G

• C / H

• D / J

• A / F

• B / G

• C / H

• D / J

Principal = $500

Interest Rate = 5%

Time = 5 years

What is the interest earned?

• $95

• $125

• $105

• $135

Dan borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back IN TOTAL after 2 years?

• $150

• $1350

• $192

• $1392

How much interest will be earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $80,000

• $800

• $16

When Lisa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the amount of interest earned after 18 years.

• $720

• $1,080

• $20,960

• $12,960

As a loan matures, larger portions go towards paying down the

• principal balance

• interest

• loan term

• none of the above