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Determine the amount after 4 years if $17500 is compounded annually at 11%. Round to the nearest cent

A 300 mL can of tomato soup sells at the store for $0.55. What is the unit price per 100mL for this product to the nearest tenth of a cent?

• $0.183/100 mL

• $1.65/100 mL

• $0.367/100 mL

• $0.545/100 mL

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

$500 earning 18% compounded monthly for 6 years. What number goes in the circle?

• 0.098333

• 0.015

• 1.015

• 1.03

Question #2

Arthur has $19,500 to invest, and wishes to gain $8,000 in interest over eleven years. Approximately what is the minimum simple interest rate that Arthur needs to achieve his goal?

A. 2.64%

B.3.04%

C. 3.72%

D. 4.51%

• A

• B

• C

• D

Determine the amount after 6 years if $3200 is compounded quarterly at 10.7%. Round to the nearest cent

A 300 mL can of tomato soup sells at the store for $0.55. What is the unit price per 100mL for this product to the nearest tenth of a cent?

• $0.183/100 mL

• $1.65/100 mL

• $0.367/100 mL

• $0.545/100 mL

Question #1

If you wish to calculate the amount of interest earned on an investment with a rate of 6.17%, what number will you plug into your equation for the rate?

A. 0.00617

B. 0.0617

C. 0.617

D. 6.17

• A

• B

• C

• D