Quiz about Financial Literacy Review

Question 1

Mr. Jenkins deposited $1,250 into an account that earns 4.25% simple interst annually. He made no additional deposits or withdrawls.

What will be the balance in Mr. Jenkins' account in dollars and cents at the end of 4 years?

Accepted Answer

$1,462.50

Answer

$1,462

Answer

$1,462.55

Answer

$462.50

Question 2

A student is preparing to enroll in a public college in 2 years. The first year of tuition will cost $12000.

What is the minimum amount the student will need to save each month in order to pay for the first year of tuition at the end of the 24 months?

Accepted Answer

$500

Answer

$6,000

Answer

$24,000

Answer

$288,000

Question 3

A customer will borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest?

Accepted Answer

A 4-year loan with a 5.2% annual simple interest rate

Answer

A 5-year loan with a 4.2% annual simple interest rate

Answer

A 6-year loan with a 4.7% annual simple interest rate

Answer

A 3-year loan with a 8.4% annual simple interest rate

Question 4

Chloe has a $6,000 loan that charges 16% simple interest every year. How much interest will the costumer save by paying the loan off at the end of 1 year instead of at the end of 3 years?

Accepted Answer

$1920

Answer

$960

Answer

$2880

Answer

$3840

Question 5

Find the MAD for the following set: 85, 90, 68, 75, 79

Accepted Answer

6.48

Answer

79.4

Answer

32.4

Answer

79

Question 6

2018-Q35

Which representation shows y as a function of x?

Accepted Answer

Option A is correct

Answer

B.

Answer

C.

Answer

D.

Question 7

2016-Q25

Which set of ordered pairs represents y as a function of x?

Accepted Answer

Option A is correct

Answer

B.

Answer

C.

Answer

D.

Question 8

For every 125 pages Daysha reads, she earns 5 points. Which graph models this relationship?

Accepted Answer

Option D is correct

Answer

A.

Answer

B.

Answer

C.

Question 9

Question 9.

Accepted Answer

Question 10

Marrisa invested $2,100 into a college savings account that pays 7.25% annual simple interest. No additional deposits or withdrawals will be made. What will be the interest and account balance at the end of 5 years?

Accepted Answer

Account Balance: $2,861.25

Interest: $761.25

Answer

Account Balance: $780.25

Interest: $2,856.25

Answer

Account Balance: $790.25

Interest: $2,845.25

Answer

Account Balance: $761.25

Interest: $2,861.25

Question 11

Question 11.

Accepted Answer

Melinda's account will have about $84.17 more than Olivia's account.

Answer

Olivia's account will have about $5.40 more than Melinda's account.

Answer

Olivia's account will have about $84.17 more than Melinda's account.

Answer

Melinda's account will have about $5.40 more than Olivia's account.

Question 12

An investment of $6,000 is made into an account that earns

$$6\frac{1}{2}\%$$ annual compound interest for 15 years. Assuming not other deposits or withdrawals are made. Which amount is closest to the amount of interest that will be earned in this account at the end of 15 years?

Accepted Answer

$9,431.05

Answer

$15,431.05

Answer

$24,862.09

Answer

$9,434.85

Financial Literacy Review

20 questions

Mr. Jenkins deposited $1,250 into an account that earns 4.25% simple interst annually. He made no additional deposits or withdrawls.
What will be the balance in Mr. Jenkins' account in dollars and cents at the end of 4 years?

A student is preparing to enroll in a public college in 2 years. The first year of tuition will cost $12000.
What is the minimum amount the student will need to save each month in order to pay for the first year of tuition at the end of the 24 months?

Gabriel deposits $2,500 into each of two savings accounts.
Account A earns 4% annual simple interest.
Account B earns 4% interest compounded annually.
Gabriel does not make any additional deposits or withdrawals. What is the sum of the balances of Account A and Account B at the end of 3 years?

Mr. Lewis deposited $2,500 in a new account at his bank.
• The bank pays 6.5% interest compounded annually on this account.
• Mr. Lewis makes no additional deposits or withdrawals.
Which amount is closest to the balance of the account at the end of 2 years?

A student’s parents invested $5,000 in a college savings account that pays 4.85% annual simple interest. No additional deposits or withdrawals will be made.
Which amount is closest to the interest earned on the account at the end of 15 years?

A customer will borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest?

You will need to work out all the answer choices.

Chloe has a $6,000 loan that charges 16% simple interest every year. How much interest will the costumer save by paying the loan off at the end of 1 year instead of at the end of 3 years?

Find the MAD for the following set: 85, 90, 68, 75, 79

Students recorded the total number of pages and chapters in each of several books on the scatterplot. Based on the scatterplot, which is the best prediction of the total number of pages in a book with 4 chapters?

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Financial Literacy Review

20 questions

Mr. Jenkins deposited $1,250 into an account that earns 4.25% simple interst annually. He made no additional deposits or withdrawls. What will be the balance in Mr. Jenkins' account in dollars and cents at the end of 4 years?

A student is preparing to enroll in a public college in 2 years. The first year of tuition will cost $12000.What is the minimum amount the student will need to save each month in order to pay for the first year of tuition at the end of the 24 months?

Mr. Lewis deposited $2,500 in a new account at his bank.• The bank pays 6.5% interest compounded annually on this account.• Mr. Lewis makes no additional deposits or withdrawals.Which amount is closest to the balance of the account at the end of 2 years?

A student’s parents invested $5,000 in a college savings account that pays 4.85% annual simple interest. No additional deposits or withdrawals will be made.Which amount is closest to the interest earned on the account at the end of 15 years?

A customer will borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest?

You will need to work out all the answer choices.

Chloe has a $6,000 loan that charges 16% simple interest every year. How much interest will the costumer save by paying the loan off at the end of 1 year instead of at the end of 3 years?

Find the MAD for the following set: 85, 90, 68, 75, 79

Students recorded the total number of pages and chapters in each of several books on the scatterplot.​​ Based on the scatterplot, which is the best prediction of the total number of pages in a book with 4 chapters?

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics

Mr. Jenkins deposited $1,250 into an account that earns 4.25% simple interst annually. He made no additional deposits or withdrawls.
What will be the balance in Mr. Jenkins' account in dollars and cents at the end of 4 years?

A student is preparing to enroll in a public college in 2 years. The first year of tuition will cost $12000.
What is the minimum amount the student will need to save each month in order to pay for the first year of tuition at the end of the 24 months?

Mr. Lewis deposited $2,500 in a new account at his bank.
• The bank pays 6.5% interest compounded annually on this account.
• Mr. Lewis makes no additional deposits or withdrawals.
Which amount is closest to the balance of the account at the end of 2 years?

A student’s parents invested $5,000 in a college savings account that pays 4.85% annual simple interest. No additional deposits or withdrawals will be made.
Which amount is closest to the interest earned on the account at the end of 15 years?

Students recorded the total number of pages and chapters in each of several books on the scatterplot. Based on the scatterplot, which is the best prediction of the total number of pages in a book with 4 chapters?