WorksheetsU5 Lessons 17,18,19,20
Total questions: 6
Worksheet time: 4mins
Name
Class
Date
1.
I deposit my money into a bank that gives 6% interest annually (compounded/month). How much interest is charged monthly?
a)
0.5%
b)
6%
c)
72%
d)
3%
2.
A couple has $5000 and has to choose between three investment options over 5 years.
a)
2.25% interest per quarter, for five years, is the best scheme
b)
3% interest every four months, for five years, is the best scheme
c)
4.5% interest every six months, for five years, is the best scheme
3.
How should I invest my $100? I'm trying to get really rich.
a)
10% interest per year over one year
b)
10% interest per month over 6 months
c)
15% interest per year over a decade
d)
20% interest per year over 2 years
4.
I deposit my money into a bank that gives 12% interest copmounded annually. How much interest is charged monthly?
a)
1%
b)
12%
c)
144%
d)
6%
5.
I buy an Aston Martin with a monthly payment of $500. I am late on my payments and 10% interest is applied perlatemonth.
a)
I owe $550 after 1 year
b)
I owe $605 after 2 years
c)
I owe $500 after 1 year
d)
I owe 600 after 2 years
6.
How much is $100 compounded with a 10% interest per year over 10 years rounded? (hint: after one year it's 100 * 1.10)
a)
$259
b)
$200
c)
$247
d)
$235
100 %
