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WorksheetsFinance and Recursion recap
Total questions: 65
Worksheet time: 4hrs 35mins
Name
Class
Date
1.
On Saturday morning, Vanessa's checking account had a $762.35 balance. Later that day she used her debit card to pay $14.80 for gasoline and $56.94 for groceries. She also transferred $500 from her savings account to her checking account using her bank's ATM. What is her checking account balance at the end of the day?
a)
$262.35
b)
$190.61
c)
$1,262.35
d)
$1,190.61
2.
What is "n" if the interest is compounded monthly?
a)
2
b)
12
c)
365
d)
4
3.
What is "n" if the interest is compounded semi-annually?
a)
1
b)
12
c)
365
d)
2
4.
What is "n" if the interest is compounded daily?
a)
1
b)
12
c)
365
d)
4
5.
If you invest $300 at 6% compounded monthly, how much money do you have after 4 years?
a)
$381.14
b)
$381.15
c)
$1274.01
d)
$381.37
6.
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?
a)
$412,749.79
b)
$529.305.61
c)
$689,546.99
d)
$640,891.53
7.
If you borrow $600 at 12% compounded daily, how much money do you owe after 30 years?
a)
a lot
b)
$21,945.95
c)
$25,945.95
d)
$21,958.94
8.
The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.
a)
the amount of money borrowed or deposited
b)
the percent interest for his year
c)
the amount taxed
d)
the amount the bank owes you for being a customer at their bank
9.
Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
a)
$150
b)
$192
c)
$1350
d)
$1392
10.
Beyonce went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Beyonce will pay for the chair?
a)
$2600
b)
$910
c)
$9100
d)
$260
11.
Find the total amount in the account to the nearest cent if the interest is compounded annually.
$2750 at 8% for 2 years
$2750 at 8% for 2 years
a)
$2200.00
b)
$3207.60
c)
$8910.00
d)
$2750
12.
The compound interest formula is:
A = P(1 + r)t
What does the A represent?
A = P(1 + r)t
What does the A represent?
a)
The amount of interest earned.
b)
The amount of time that has passed.
c)
The total amount of money after a certain amount of time.
d)
The amount required to invest.
13.
Justin felt it wasn't to late to say sorry and borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
a)
$150
b)
$192
c)
$1350
d)
$1392
14.
Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?
Interest rate = 2.5%
TIme = 3 years.
How much interest?
a)
$7.50
b)
$26.25
c)
$87.5
d)
$262.50
15.
Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?
a)
4
b)
8
c)
12
d)
16
16.
Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
a)
150
b)
192
c)
1350
d)
1392
17.
Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?
Interest rate = 2.5%
TIme = 3 years.
How much interest?
a)
7.50
b)
26.25
c)
87.5
d)
262.50
18.
Principal = $800
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.
a)
14
b)
140
c)
168
d)
16.80
19.
Principal = $1500
Interest earned = $60
Time = 1 year
Find the interest rate.
a)
40%
b)
4%
c)
0.4%
d)
8%
20.
You lend $240 to your friend. He pays you back $30 in interest in one year. What interest rate did you charge your friend?
a)
88%
b)
20%
c)
12.5%
d)
10%
21.
Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?
a)
6%
b)
6%
c)
8%
d)
9%
22.
If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?
a)
$1,225,54
b)
$2,100.34
c)
$22,255.40
d)
$225.54
23.
Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?
a)
$827.52
b)
$831.10
c)
$839.45
d)
$846.80
24.
You borrowed $1,690 for 5 1/2 years at an interest of 5.7% compounded annually. How much extra did you pay by taking out the loan?
a)
$602.45
b)
$2,292.45
c)
$1,87.55
d)
$3,982.45
25.
Principal: $999
Interest Rate: 5.45%
Time: 19 years
Compounded Quarterly
State the future account balance.
Interest Rate: 5.45%
Time: 19 years
Compounded Quarterly
State the future account balance.
a)
$2794.10
b)
$2738.11
c)
$2774.98
d)
$2807.11
26.
Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.
a)
$12712.31
b)
$12,749.30
c)
$12,657.59
d)
$12550.84
27.
Find the 22nd term of the following sequence:
5, 8, 11, ...
5, 8, 11, ...
a)
14
b)
68
c)
63
d)
71
28.
Create the explicit formula for the sequence:
2, 8, 14, ...
(Hint: Write your formula and then simplify it.)
2, 8, 14, ...
(Hint: Write your formula and then simplify it.)
a)
an=2+6n
b)
an=-6+6n
c)
an=6n-4
d)
an=4-6n
29.
Identify the common difference.
97, 86, 75, 64, ...
97, 86, 75, 64, ...
a)
8
b)
11
c)
-11
d)
-8
30.
Identify the common difference.
3, 7, 11, 15, ...
3, 7, 11, 15, ...
a)
6
b)
5
c)
4
d)
2
31.
Find the 32nd term of this sequence.
34, 37, 40, 43, ...
34, 37, 40, 43, ...
a)
32
b)
64
c)
127
d)
356
32.
Given the sequence:
25, 21, 17, 13,...
Write the explicit equation that models the sequence. (Hint: Simplify your equation.)
25, 21, 17, 13,...
Write the explicit equation that models the sequence. (Hint: Simplify your equation.)
a)
an = 4n + 29
b)
an = -4n + 25
c)
an = -4n + 29
d)
an = 4n + 25
33.
The next two terms of the sequence 4,7,10,13 are ....
a)
16 and 19
b)
15 and 19
c)
16 and 18
d)
15 and 18
34.
What is the 15th term of the sequence an = -3n+50
a)
95
b)
-5
c)
5
d)
-95
35.
What is the distance from one number to the next in a sequence of numbers that is represented by a (d) in an arithmetic sequence?
a)
Common denominator
b)
Common opposites
c)
Common domain
d)
Common difference
36.
Find the 10th term.
a)
16
b)
12
c)
21
d)
30
37.
Find a26 in the arithmetic sequence: -15, -35, -55, -75, ...
a)
-515
b)
-490
c)
-535
d)
460
38.
Is this an Arithmetic sequence? 5, 4.25, 3.5, 2.75
a)
Yes
b)
No
39.
What kind of sequence is the pattern 32, 38, 44, 50, 56, ...?
a)
arithmetic
b)
geometric
c)
neither
40.
In Arithmetic Sequences, to get the next number, you have to
a)
multiply or divide
b)
add or subtract
41.
If GST is applied to an item marked $121.50, the new price of the item is:
a)
131.50
b)
111.50
c)
133.65
d)
110.45
42.
Shares in Company A have a market value of $22.50. If the company makes a 12-month profit of $2.85 per share, the price-to-earnings ratio for that time period is:
a)
12.67
b)
0.13
c)
7.89
d)
25.35
43.
Sue has a credit card debt of $3000. She has 35 interest-free days left, but she will not be able to pay the amount for 90 days. If the interest rate is 18.9% per annum, the amount she will need to repay is closest to:
a)
3055
b)
3087
c)
3143
d)
87
44.
The price of a newspaper is $2 today. If the price increases with inflation, what will be the price of the newspaper in 10
years time if the average annual inflation rate is 1.8%?
a)
2.39
b)
2.10
c)
2.18
d)
5.57
45.
5, 10, 15, 20, 25, ____, ____, ____
a)
30, 35, 40
b)
65, 35, 116
c)
26, 27, 28
d)
20, 15, 10
46.
5, 10, 15, 20, 25, ____, ____, ____
a)
30, 35, 40
b)
65, 35, 116
c)
26, 27, 28
d)
20, 15, 10
47.
12, 14,16,18................,..................,
a)
14,12
b)
200,13
c)
100,18
d)
none of the aboves
48.
12, 14,16,18................,..................,
a)
14,12
b)
200,13
c)
100,18
d)
none of the aboves
49.
Complete the pattern: 90, 80, 70, 60, ___, 40
a)
20
b)
50
c)
70
d)
40
50.
4, 8, 16, 32 What rule was used to make this pattern?
a)
Add 2
b)
Multiply by 2
c)
Add 4
d)
Multiply by 4
51.
What is the pattern:
1, 3, 9, 27
1, 3, 9, 27
a)
Multiply by 2
b)
Add 3
c)
Multiply by 3
d)
Add 4
52.
320, 340, 360,
What is the next number in the pattern?
What is the next number in the pattern?
a)
54
b)
400
c)
380
d)
370
53.
34, 40, 46, ____, ____
What is the fifth number in the pattern?
What is the fifth number in the pattern?
a)
60
b)
52
c)
58
d)
34
54.
Mrs. Hunt wrote the following number pattern: 37, 30, 23, 16,
What number would come next if the pattern continued?
What number would come next if the pattern continued?
a)
15
b)
5
c)
9
d)
10
55.
47, 50, 53, 56, ____, 62, ____
What are the missing numbers?
What are the missing numbers?
a)
59, 69
b)
59,65
c)
65, 45
d)
60, 64
56.
How would you describe this pattern's rule?
16, 11, 6, 1
16, 11, 6, 1
a)
Add 5
b)
Subtract 3
c)
Subtract 5
d)
Subtract 6
57.
How would you describe this pattern's rule?
23, 29, 35, 41
23, 29, 35, 41
a)
Subtract 6
b)
Add 6
c)
Subtract 5
d)
Add 4
58.
How would you describe this pattern's rule?
4, 11, 18, 25, 32, 39
4, 11, 18, 25, 32, 39
a)
Add 8
b)
Add 6
c)
Subtract 8
d)
Add 7
59.
What are the next 2 numbers of this pattern?
23, 27, 31, 35, ___, ___
23, 27, 31, 35, ___, ___
a)
37, 39
b)
40, 45
c)
39, 43
d)
38, 41
60.
What are the missing numbers in this pattern?
12, 15, ___, 21, ____, 27
12, 15, ___, 21, ____, 27
a)
18,23
b)
18, 24
c)
17, 25
d)
17, 24
61.
How many counters would come next?
a)
5
b)
7
c)
9
d)
11
62.
How would you describe this pattern's rule?
4, 11, 18, 25, 32, 39
4, 11, 18, 25, 32, 39
a)
Add 8
b)
Add 6
c)
Subtract 8
d)
Add 7
63.
What are the missing numbers in this pattern?
23, 33, ___, 53, ___, 73
23, 33, ___, 53, ___, 73
a)
32, 62
b)
42, 63
c)
43, 63
d)
42, 62
64.
34, 38, a , 46, 50, b
What number should replace a?
What number should replace a?
a)
40
b)
39
c)
42
d)
70
65.
34, 38, a , 46, 50, b
What number should replace b?
What number should replace b?
a)
40
b)
54
c)
60
d)
55
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