Consumer Math_2.14.24_ET

A bank is offering 2.5% simple interest on a savings account. If you deposit $5,000, how much interest will you earn in three years?

• $5375

• $375

• $37500

• $42500

A bank is offering 7% annual compound interest on a savings account. If you deposit $1,500, how much interest will you earn in three years?

• $1837.56

• $337.56

• $30000

• $31500

Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%. What is the total amount she will repay for the car loan?

• $50,4000

• $5,040

• $23,040

• $18,000

Compound (balance)
You put $547 into an investment at 5% compounded quarterly for two years. What will the balance be at the end of two years? 
P=$547
R=5%
N=4
T=2

• $506.54
• $604.15
• $345.32
• $239.43

Compound (balance)
If you borrow $952 at 9% compounded quarterly for four years, how much will you pay back by the end of the term?

• $123.32
• $985.43
• $985.48
• $1,359.10 

Compound (missing time)-log
If a loan is taken out for $731 at 3% compounded monthly and costs $45.14, how long was the loan for?

• 3.5 years
• 2 years
• 3 years
• 4 years