Free Printable Core Maths Personal Finance and Normal Distribution

1.

An account has an annual interest rate of 3.5%. Interest is paid every 6 months. What is the value of n in the formula for AER?

a)

1

b)

2

c)

6

d)

12

2.

An account has an annual interest rate of 3.5%. Interest is paid every 6 months. What is the value of i in the formula for AER?

a)

3.5

b)

0.035

c)

0.07

d)

7

3.

An account has an interest rate of 3.5% paid every 3 months. What is the value of n in the formula for AER?

a)

1

b)

2

c)

3

d)

4

4.

An account has an interest rate of 3.5% paid every 3 months. What is the value of i in the formula for AER?

a)

0.035

b)

0.105

c)

0.14

d)

0.35

5.

$Z\sim N\left(0,1\right)$
What is $p\left(z<0.85\right)$ ?

a)

0.80234

b)

0.19766

c)

0.78814

d)

0.21186

6.

$Z\sim N\left(0,1\right)$
What is $p\left(z>0.32\right)$ ?

a)

0.78230

b)

0.38209

c)

0.62552

d)

0.37448

7.

$Z\sim N\left(0,1\right)$
What is $p\left(z>-1.59\right)$ ?

a)

0.05592

b)

0.94408

c)

0.72240

d)

0.27760

8.

A £3000 loan is taken out over 3 years at an interest rate of 0.9% per annum. It is paid back in 1 instalment. What is the value of t?

a)

1

b)

2

c)

3

d)

4

9.

A £3000 loan is taken out over 3 years at an interest rate of 0.9% per annum. It is paid back in 1 instalment. What is the value of i?

a)

0.9

b)

0.27

c)

0.09

d)

0.009

10.

A £3000 loan is taken out over 3 years at an interest rate of 0.9% per annum. It is paid back in 1 instalment. What is the value of A?

a)

£3885.09

b)

£3027

c)

£3081.73

d)

£5700

11.

$X\sim N\left(5,16\right)$
If you want to find $p\left(x<7\right)$ what is the value of z that you use?

a)

0.5

b)

-0.5

c)

0.125

d)

-0.125

12.

$X\sim N\left(120,\ 8^2\right)$
If you want to find $p\left(x>114\right)$ what is the value of z that you need?

a)

-0.42

b)

-0.88

c)

-0.75

d)

-0.09

13.

$X\sim N\left(83,11.5^2\right)$
Find $p\left(x<79.5\right)$

a)

0.61791

b)

0.79389

c)

0.20611

d)

0.38209

14.

The graph shows the CPI from 2013 to 2020. What was the rate of inflation from 2013 to 2020?

a)

118%

b)

18%

c)

5%

d)

4.4%

15.

The graph shows the CPI from 2013 to 2020. What was the rate of inflation from 2019 to 2020?

a)

5.0%

b)

4.4%

c)

4.2%

d)

1.04%

16.

The graph shows the CPI from 2013 to 2020. If a 4 pint carton of milk costs £1.10 in 2020, what calculation do I do to find the price in 2019?

a)

$1.10\div0.956$

b)

$1.10\times0.956$

c)

$1.10\times1.044$

d)

$1.10\div1.044$

17.

What is the formula used to find a confidence interval?

a)

$\mu\pm z\left(\frac{\sigma}{n}\right)$

b)

$z\pm\mu\left(\frac{\sigma}{\sqrt{n}}\right)$

c)

$\mu\pm z\left(\frac{\sigma}{\sqrt{n}}\right)$

d)

$z\pm\mu\left(\sqrt{\frac{\sigma}{n}}\right)$

18.

What is the z value for a 95% confidence interval?

a)

1.6449

b)

1.9600

c)

0.82894

d)

0.83398

19.

If annual income is £25000, how much of the salary is the 12% NI rate paid on?

a)

£16368

b)

£25000

c)

£33632

d)

£8632

20.

If annual income is £65000, how much of the salary is the 12% NI rate paid on?

a)

£15000

b)

£6368

c)

£56368

d)

£41368

Core Maths Personal Finance and Normal Distribution

Total questions: 20

Worksheet time: 16mins

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