WorksheetsEnd of Year Review #1
Total questions: 15
Worksheet time: 1hrs 15mins
How can you improve your credit score?
Reduce overall credit
Limit you use of credit cards
Make credit card payments on time
All of the above
With which of the following would you receive the MOST paychecks?
Biweekly
Weekly
Monthly
Quarterly
Which of the following deductions from a paycheck are voluntary?
State Income Tax
Disability Tax
Health Insurance
Federal Tax
Which of these pays interest on interest?
Compound Interest
Simple Interest
If you deposit $500 into a bank account with an interest rate of 5%, how much interest will be earned in 5 years?
$125
$625
$565
When calculating compound interest, n stands for:
Principal
Rate
Number of times compounded
Time
Calculate the end balance when $10 is compounded annually at 2% for 70 years.
$40.00
$3,488,889.57
$14.00
$24
When will the amount in a simple interest account equal the amount in a compound interest account?
At the end of the first year
At the end of the second year
At the end of five years
At the end of ten years
Which of the following will be the largest factor to cause your car to depreciate?
Repainting
Driving only in the summer
Parking in the shade
Never washing
Mrs. Backus deposited $300 in her bank account. This account has an annual interest rate of 5% and is compounded monthly. How much money will Mrs. Backus have in 10 years?
$315.35
$435.35
$494.10
$545.82
What type of graph will a compound interest account be?
Quadratic
Linear
Exponential
If a car with a 20.4 gallon gas tank has just filled up, how far will it be able to travel if its MPG is 28?
48.4 miles
571.2 miles
7.6 miles
Credit scores can fall within what range?
350 - 800
300- 850
300 - 800
350 - 850
What are two of the top factors when credit score is being calculated?
Payment history and job history
Payment history and the amount of current debt
Payment history and the amount of credit inquiries
Length of credit history and types of credit
How can you improve your credit score?
Apply for more credit cards
Make payments on time
Take private loans instead of government loans
Keep transferring balances from one credit card to another
