CH3L6
Quiz
•
Life Skills
•
9th - 12th Grade
•
Practice Problem
•
Medium
Stephen Loszewski
Used 1+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You make an investment of $500 at 12% interest over the course of 20 years. Using this hypothetical, identify the rate of return.
$500
12%
20 Years
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You make an investment of $500 at 12% interest over the course of 20 years. Using this hypothetical, identify the principal.
$500
12%
20 Years
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You make an investment of $500 at 12% interest over the course of 20 years. Using this hypothetical, identify the term.
$500
12%
20 Years
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Recall what makes compound interest more profitable than simple interest.
Compound interest requires no principal.
Investments with compound interest come with shorter terms.
Profits earned this way are tax free.
It allows you to earn interest on top of previously earned interest.
5.
MATH RESPONSE QUESTION
2 mins • 1 pt
Determine the total growth for the following investment:
$1000 invested with a 10% interest rate, compounded yearly, over the course of 10 years.
Mathematical Equivalence
ON
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