Understanding and applying sequences

Linda started a savings account for her nephew with $3,000. The account earned 5% simple interest. How much interest did the account accumulate in 4 months?

• $50.00

• $600.00

• $60,000.00

• $4999.95

What kind of sequence is this?

• Arithmetic

• Geometric

The iPhone X is valued at $1000 upon purchase. The value is expected to decrease by 14% each year. What type of sequence is this? 

• Arithmetic 
• Geometric 
• Neither 

You have inherited land that was purchased for $30,000 in 1960. The value of the land increased by approximately 5% per year. What is the approximate value of the land in the year 2011?

Which investment earns the most simple interest?

• $4,444 at 8.5% per year for 2 years 3 months

• $4,444 at 4.25% per year for 4 years 6 months

• $2,222 at 8.5% per year for 4 years 6 months

• They all earn the same amount of interest

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800
• $1,000
• $1,200
• $1,500

In a contest, each finalist must answer 5 questions correctly. Each question is worth twice as much as the question before it. The fifth question is worth $1,600. How much is the first question worth?

• $800

• $400

• $200

• $100

The value of a car is $15,000 and depreciates at a rate of 8% per year. What is the value after 7 years?

• $800
• $8367.70
• $6600
• $25,707.36

The attendance at the art museum at the New Year’s opening was 250 people. The attendance has been increasing at a rate of 3% each month. How many people will attend by the end of a year?

• 356
• 265
• 5825
• 1329

The first term of a G.P is 1. The sum of the third term and fifth term is 90. The common ratio is

• 3

• -3

• $\pm$ 3

• none of these