What is the frequency of the deposits made into the account?

Understanding Savings Annuity

Interactive Video
•
Mathematics, Business
•
9th - 12th Grade
•
Hard

Emma Peterson
FREE Resource
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8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Annually
Bi-annually
Quarterly
Monthly
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the annual interest rate applied to the account?
5.5%
5.0%
4.5%
6.0%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the savings annuity formula, what does 'p' represent?
Interest rate
Principal amount
Periodic payments
Number of years
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many times is the interest compounded per year?
4
3
2
12
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the value of 'n' in the formula for this problem?
2
4
3
12
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the exponent in the formula when calculating the future value of the account?
20
40
10
30
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which tool is used to perform the final calculation?
Python
Calculator
Desmos
Excel
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the final account balance after 10 years?
$25,000
$27,000
$28,500
$26,428.03
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