Financial Math

What is 7.25% converted to a decimal?

• .725
• 0.725
• 0.0725
• 7.25

Tags

CCSS.5.NBT.A.3

CCSS.5.NBT.B.7

What is "n" if the interest is compounded monthly?

• 2
• 12
• 365
• 4

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

What is "n" if the interest is compounded daily?

• 1
• 12
• 365
• 4

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

If you are taking out a loan, is it better to have interest compounded daily or quarterly at 7%?

• Daily - so you owe money more often
• Quarterly - so you owe money less frequently
• who knows
• I need to consult my financial analyst

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

If you are opening a savings account, is it better to have interest compounded daily or quarterly at 7%?

• Daily - so you earn money more often
• Quarterly - so you earn money less often
• who knows
• I need to consult my financial analyst

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

If you invest $300 at 6% compounded monthly, how much money do you have after 4 years?

• $381.14
• $381.15
• $1274.01
• $381.37

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

The Arnold's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much total will they have paid after 30 years?

• $412,749.79
• $529.305.61
• $689,546.99
• $640,891.53

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

If you borrow $600 at 12% compounded daily, how much money do you owe after 30 years?

• a lot
• $21,945.95
• $25,945.95
• $21,958.94

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

The total cost of attending the University of North Texas for one year is $15,500. Jason has saved up $8,500 and also has an academic scholarship for $4,000 to help him pay for her first year. If he doesn’t save any more money, how much will he need in student loans to help pay the rest of his first year?

• $3,000

• $5,000

• $8,000

• $4,000

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.3

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

The state university costs $17,000 for one year of school. Jason receives an athletic scholarship worth $10,000. He also received 2 grants for a combined total of $2,680. He still has 3 years to save up the rest of the money needed. What is the minimum amount he will need to save every month to reach his goal?

• $120 per month

• $140 per month

• $250 per month

• $80 per month

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3