
Module 7 - Finance, Proabability, and Statistics
Authored by HAILEY TRIGGS
Mathematics
University
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40 questions
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1.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Which of the following can be used for P?
starting amount
initial
principal
total amount
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Question #5
In the formula I=P·R·T, what does r stand for in a loan?
A. Rate: the interest percentage you will pay on a loan
B. Ratio: the size of the interest interval compared to time
C. Return: how much money you end up earning
D. Reserves: how much money you have in the investment
A
B
C
D
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Question #6
Iris has earned $813 in interest on her investment. She made her only deposit in it seven years ago. Given that the investment yields 3.7% simple interest annually, how big was the initial deposit?
A. $1,806
B. $2,282
C. $3138
D. $3945
A
B
C
D
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Question #9
Nate has an account that pays 2.76% simple interest per year and wants to accumulate $3,090 in interest from it over the next 15 years. How much money should Nate invest in this account to meet this goal?
A. $1,279.26
B. $4,369.26
C. $4,373.77
D. $7,463.77
A
B
C
D
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does P represent?
interest rate
time
principal
total amount
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Question #16
You want a high interest rate when you borrow money.
A.) true
B.) false
A
B
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Question #17
You want a high interest rate when you invest money.
A.) true
B.) false
A
B
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