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WorksheetsWeek 4 - Mid-Term Review Part II
Total questions: 10
Worksheet time: 50mins
9.1%
1.3%
9.7%
8.5%
42) Keiko pays $280 per month for food, a semiannual health insurance premium of $1200, and an annual car insurance premium of $500. Prorate the given expenses to find her monthly cost. Round to the nearest dollar.
$1980
$880
$522
$422
47) Evaluate 34
12
81
27
48
48) You invest $49,400 in an account that pays simple interest of 4% for 5 years. How much interest will you have paid at the end of the 5 years?
$1976
$59,280
$51376
$9880
50) Use the compound interest formula to determine the accumulated balance after the stated period. Assume that interest is compounded annually.
$19,000 is invested at an APR of 1.8% for 2 years. Round your answer to the nearest dollar.
$684
$148,960
$19,342
$19,690
51) What is the accumulated balance if you deposit $1000 at an APR of 3%, compounded quarterly for 6 years? Round your answer to the nearest cent.
$1196.41
$1195.62
$1018.16
$1195.55
52) You want to have a $60,000 college fund in 12 years. How much will you have to deposit now in an account with an APR of 5% and quarterly compounding?
$31,212.46
$33,410.25
$21,172.44
$33,051.39
53) Find the savings plan balance after 6 years with an APR of 3% and monthly payments of $508.
$40,019.93
$99,918.07
$3067.11
$30,671.13
54) You put $334 per month in an investment plan that pays an APR of 4% compounded monthly. How much money will you have after 20 years?
$122,561.88
$122,502.73
$122,443.63
$104,127.32
56) You need a $83,189 loan. Compute the monthly payment for a 30 year loan at an APR of 8%.
$619.27
$621.72
$610.41
$602.86
