wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

GenMath Review

Total questions: 100

Worksheet time: 2hrs 40mins

Name
Class
Date
1.

It is the amount of time in years the money is borrowed or invested.

a)

Principal Amount

b)

Maturity/Future Value

c)

Interest

d)

Rate

2.

It is the date on which the total amount borrowed with interest is to be completely repaid.

a)

Loan date

b)

Maturity Value

c)

Maturity Date

d)

Origin Date

3.

It refers to the person or institution that invests the money or makes the funds available.

a)

Creditor

b)

Lender

c)

Business Mathematics

d)

Bank

4.

If everthing else is the same, which is better for the borrower, a simple interest loan or a compound interest loan?

a)

Simple interest

b)

Compound interest

c)

They are the same.

5.

If everything else is the same, which is better for the lender, a simple interest loan or a compound interest loan?

a)

Simple Interest

b)

Compound Interest

c)

They are the same.

6.

How do you write 23% as a decimal?

a)

23.0

b)

2.3

c)

0.23

d)

0.023

7.

How do you write 5% as a decimal?

a)

5.0

b)

0.5

c)

0.05

d)

0.005

8.

What is 5.6% written as a decimal?

a)

5.6

b)

0.56

c)

0.056

d)

0.0056

9.

Alexia is buying a Nissan Versa and takes out a 4-year simple interest car loan for $15000 at a 3% interest rate. What is the principal?

a)

4 years

b)

$15000

c)

3%

d)

Nissan Versa

10.

Christine takes out a 4-year simple interest car loan for $15000 at a 3% interest rate. Is she does not make any payments, how much interest will she owe at the end of 4 years?

a)

$1800

b)

$18000

c)

$16800

d)

$33000

11.

Greg takes out a 4-year simple interest car loan for $15000 at a 3% interest rate. Is he does not make any payments, how much total money will he owe at the end of 4 years?

a)

$1800

b)

$18000

c)

$16800

d)

$33000

12.

Aiydan puts $5000 into a savings account with a 3% interest rate. The interest compounds yearly. How much money will he have in his account after 8 years?

a)

$150

b)

$5300

c)

$6333.85

d)

$40786.54

13.

Keylaan takes out a $30000 loan for her new Ford Mustang. She will pay back the entire loan at the end of 8 years. It is a simple interest loan with an interest rate of 7.25%. How much will she have to pay at the end of 8 years?

(a)  

14.

Sara takes out a $30000 loan for her new Honda Civic. She will pay back the entire loan at the end of 8 years. It is a compound interest loan with an interest rate of 7.25%. How much will she have to pay at the end of 8 years?

a)

$17400.00

b)

$30725.00

c)

$52516.97

d)

$2351982.31

15.

In the formula I=P·R·T, what does r stand for in a loan?

A. Rate: the interest percentage you will pay on a loan

B. Ratio: the size of the interest interval compared to time

C. Return: how much money you end up earning

D. Reserves: how much money you have in the investment

a)

A

b)

B

c)

C

d)

D

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.
Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?
a)
95
b)
105
c)
125
d)
135
18.

If you invest $8,600 at a 3.95% simple annual interest rate, approximately how long will it take for you to earn a total of $21,000 in interest?

A. 25 years

B. 36 years

C. 45 years

D. 61 years

a)

A

b)

B

c)

C

d)

D

19.

Kermit took out a 4 year loan for $5,500. He had to pay a total of $1,870 in interest payments. What rate did he pay for his loan?

a)

85%

b)

5.5%

c)

8.5%

d)

14%

20.
9 months is how many years?
a)
.5
b)
.75
c)
.25
21.

It is the amount of money borrowed or invested on the origin date.

a)

Capital

b)

Principal

c)

Maturity Value

d)

Interest

22.

It is the amount after t years that the lender receives from the borrower on the maturity date.

a)

Capital

b)

Interest

c)

Maturity Value

d)

Principal

23.

It is the date on which money is received by the borrower.

a)

Time

b)

Maturity Date

c)

Rate

d)

Origin/Loan Date

24.

It is the interest computed on the principal and also on the accumulated past interest.

a)

Interest

b)

Simple Interest

c)

Compound Interest

d)

Interest Rate

25.

All of the following are used to find simple interest, EXCEPT?

a)

Future Value

b)

Time

c)

Rate

d)

Principal Amount

26.

It is a series of equal payments at regular intervals.

a)

Interest

b)

Annuity

c)

Logic

d)

Proposition

27.

This is the formula used in annuity for the calculation of ________.

a)

Future Value of Annuity

b)

Present Value of Annuity

c)

Simple Interest

d)

Compound Interest

28.

It is a series of payments usually equal, made at equal intervals of time.

a)

sinking fund

b)

annuity

c)

bond

d)

loan

29.

It is an annuity in which payment periods coincide with the interest conversion periods.

a)

compound

b)

simple

c)

general

d)

complex

30.

It is annuity in which payments are made at the end of the payment periods.

a)

annual

b)

ordinary

c)

annuity due

d)

deferred

31.

It is an annuity in which payments are made at the beginning of the payment periods.

a)

early

b)

ordinary

c)

general

d)

annuity due

32.

Mario deposits P800 at the end of each 3 months in a loan association which gives 8% compounded quarterly. What is P800 in the given situation?

a)

annual payment

b)

interest

c)

periodic payment

d)

loan payment

33.

It is the time from the beginning of the first payment interval to the end of the last payment interval.

a)

period

b)

term

c)

contract

d)

perpetuity

34.

It is an annuity in which the first periodic payment is made after a certain interval of time.

a)

Ordinary Annuity

b)

Deferred Annuity

c)

General Annuity

d)

Simple Ordinary Annuity

35.

The present value of a deferred annuity is the accumulated value of the stream of payments at the beginning of the deferral period.

a)

True

b)

False

c)

Maybe

36.

The present value of a deferred annuity is the accumulated value of the stream of payments at the beginning of the deferral period.

a)

True

b)

False

c)

Maybe

37.

What is the formula in solving the period of deferral?

a)

period of deferral= (conversion period) x (term of annuity) - 1

b)

period of deferral= (first payment made) x (payment interval) - 1

c)

period of deferral= (first payment made) x (conversion period) - 1

d)

period of deferral= (first payment made) x (payment interval)

38.

It is an annuity which has a fixed or definite term of the beginning and end time of payment.

a)

annuity certain

b)

annuity uncertain

c)

simple annuity

d)

general annuity

39.

It is an annuity whose payment is the same as the conversion period.

a)

annuity certain

b)

annuity uncertain

c)

simple annuity

d)

general annuity

40.

It is the amount paid every period.

a)

Payment Interval

b)

Term

c)

Periodic Payment

d)

Payment

41.

It is the time from the beginning of the first payment interval until the last payment interval.

a)

Payment Interval

b)

Term

c)

Periodic Payment

d)

Payment

42.

An annuity that has 16% interest rate compounded quarterly and payment of PHP 2,500 at the end of each three months.

a)

Annuity Due

b)

General Annuity

c)

Ordinary Annuity

d)

Simple Annuity

43.

An annuity that pays PHP 1,000 at end of each month with 16% interest compounded monthly.

a)

Annuity Due

b)

General Annuity

c)

Ordinary Annuity

d)

Simple Annuity

44.

Which of the following is an examples of annuity certain?

a)

Motorcycle Amortization

b)

Accident insurance

c)

Pension

d)

Life insurance

45.

Ordinary annuity is paid or received at the _______ of the time periods.

a)

beginning

b)

end

c)

middle

d)

quarter

46.

Annuity Due is an annuity that is paid or received at the ____________ of the time period

a)

end

b)

beginning

c)

middle

d)

quarter

47.

Zilong is paying a monthly rental of P2,500 with a 2-year contract of 6% compounded monthly.

WHAT IS THE PAYMENT INTERVAL IN THE GIVEN ANNUITY?

a)

Monthly

b)

Annually

48.

The definition of annuity ?

a)

A series of equal amount of payment /deposits made at equal intervals time

b)

A series of equal amount of discount made at equal intervals time

c)

A series of equal amount of annuity made at equal intervals time

d)

A series of marvel movie !

49.

You are considering investing in a retirement fund that requires you to deposit RM5,000 per year, and you want to know how much the fund will be worth when you retire. What financial technique should you use to calculate this value?

a)

Future value of a single payment

b)

Future value of an annuity

c)

Present value of an annuity

d)

None of the above

50.

An annuity is an asset that pays a fixed sum each year for a specified number of years.

a)

TRUE

b)

FALSE

51.

An equal-payment home mortgage is an example of an annuity.

a)

TRUE

b)

FALSE

52.

S = R (1 + i )n−1iS\ =\ R\ \frac{\left(1\ +\ i\ \right)^n-1}{i}  what is the meaning of  RR  

a)

Recycle

b)

Interest Period

c)

Periodic Payments

d)

Interest Rate 

53.

A = R 1−(1+i)−niA\ =\ R\ \frac{1-\left(1+i\right)^{-n}}{i}

 what is the function of this formula?

a)

To find terms of investment 

b)

To find present value of annuity

c)

To find Nemo

d)

To find past annuity

54.

What is the formula for amount of annuity ?

a)

S= R ((1+i)n + 1i)S=\ R\ \left(\frac{\left(1+i\right)^{n\ }+\ 1}{i}\right)

b)

S = R ((1+r)n − 1i)S\ =\ R\ \left(\frac{\left(1+r\right)^{n\ }-\ 1}{i}\right)

c)

S = R ((1+r)n −1r)S\ =\ R\ \left(\frac{\left(1+r\right)^{n\ }-1}{r}\right)

d)

S = R ((1+i)n −1i)S\ =\ R\ \left(\frac{\left(1+i\right)^{n\ }-1}{i}\right)

55.

Find the amount to be invested every 3 months at 10% compounded quarterly to accumulated RM 10 000 in 3 years. Which formula to be used?

a)

A= R[1−(1+i)−ni]A=\ R\left[\frac{1-\left(1+i\right)^{-n}}{i}\right]  

b)

S=R[(1+i)n−1i]S=R\left[\frac{\left(1+i\right)^n-1}{i}\right]  

56.

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

57.
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
a)
$800
b)
$1,000
c)
$1,200
d)
$1,500
58.
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
59.

The simple interest formula is I=Prt. What does the t represent?

a)

Principle

b)

Interest

c)

Time

d)

Percent Rate

60.
The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.
a)
fraction
b)
decimal
c)
ratio
d)
dollar amount
61.
Write the percent as a decimal. 
4.3%
a)
4.3
b)
.43
c)
.043
d)
4300
62.

the time has to be in _____________

a)

years

b)

months

c)

days

d)

seconds

63.

It is the date on which the total amount borrowed with interest is to be completely repaid.

a)

Loan date

b)

Maturity Value

c)

Maturity Date

d)

Origin Date

64.

How do you write 23% as a decimal?

a)

23.0

b)

2.3

c)

0.23

d)

0.023

65.

Christine takes out a 4-year simple interest car loan for $15000 at a 3% interest rate. Is she does not make any payments, how much interest will she owe at the end of 4 years?

a)

$1800

b)

$18000

c)

$16800

d)

$33000

66.
Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?
a)
95
b)
105
c)
125
d)
135
67.
Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?
a)
$23,285.05
b)
$3,285.05
c)
$2,385
d)
$32,285
68.
Semi-Annually means how many times a year?
a)
4 
b)
2
c)
1
d)
6
69.
Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?
a)
$1,584.62
b)
$2,651.39
c)
$2,706.86
d)
$1,825.10
70.
Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years.
a)
$15,415.94
b)
$15,683.28
c)
$15,927.56
d)
$16,109.05
71.
Principal: $5000
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
72.

What does the n stand for in this formula?

a)

Initial amount

b)

Final amount

c)

Rate

d)

Time

e)

The number of times compounded per year

73.

What does the r stand for in this formula?

a)

Initial amount

b)

Final amount

c)

Rate

d)

Time

e)

The number of times compounded per year

74.

Carly

deposited $800 in an account that earns 6% compounded annually. Lara deposited

$800 in an account that earns 6% simple interest. How much will each girl have

in their account at the end of 10 years if they make no withdrawals or deposits?

a)

Carly: $1432.68 Lara: $1280

b)

Carly: $1444.89 Lara: $1280

c)

Carly: $1444.89 Lara: $1320

d)

Carly: $1432.68 Lara: $1320

75.

If you borrow $1,900 for 2.5 years at an interest rate of 5.9%, how much interest will you pay?

a)

$280.25

b)

$2,180.25

c)

$295.50

d)

$2,295.25

76.

Use Compound Interest Formula to find the ending balance.


Your 2 year investment of $1,030 received 4% interest compounded semiannually. What is your total return?

a)

$84.91

b)

$1,114.91

c)

$82.40

d)

$1,112.40

77.
You lend $240 to your friend.  He pays you back $270.  What interest rate did you charge your friend?
a)
88%
b)
20%
c)
12.5%
d)
10%
78.
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
a)
$800
b)
$1,000
c)
$1,200
d)
$1,500
79.

Calculate the interest. I = PRT,

Principal = $1000,

Rate = 6%,

Time = 2 years

a)

$100

b)

$120

c)

$180

d)

1200

80.
Bruno was given $2000 when he turned 3 years old.  His parents invested it at a 2% interest rate compounded annually.  No deposits or withdrawls were made.  Which expression can be used to determine how much money Bruno had in the account when he turned 16? 
a)
2000(1+0.02)13
b)
2000(1-0.02)13
c)
2000(1+0.02)16
d)
2000(1-0.02)16
81.
Monthly means how many times a year?
a)
4 
b)
12
c)
52
d)
365
82.
Principal: $5000
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
83.
Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years.
a)
$15,415.94
b)
$15,683.28
c)
$15,927.56
d)
$16,109.05
84.
Change 6.75% to a decimal.
a)
67.5
b)
.675
c)
675
d)
.0675
85.
Semi-Annually means how many times a year?
a)
4 
b)
2
c)
1
d)
6
86.
I = Prt where r represents the rate.  Rates must be converted into ____ before multiplying.
a)
fractions
b)
mixed numbers
c)
decimals
87.

The simple interest formula is I=Prt. What does the t represent?

a)

Principal

b)

Interest

c)

Time, in hours

d)

Time, in years

88.
If the time is given in months, you must first _____________ by 12.
a)
add
b)
subtract
c)
multiply
d)
divide
89.

The Principal and Interest are always amounts of ___________.

a)

fraction

b)

decimal

c)

percent

d)

money

90.

A lending agreement between a lender and a business in which the lender gives money to the business, and the business pays it back in an agreed-upon amount of time with an agreed-upon amount of interest. 

a)

CONSUMER LOAN

b)

BUSINESS LOAN 

c)

BONDS 

d)

MORTGAGE LOAN 

91.

It is a loan is a money lent to an individual for personal or Family purposes. 

a)

STOCKS 

b)

CONSUMER LOAN 

c)

BONDS 

d)

MORTGAGE LOAN 

92.

Borrowing money to fund the business expenses.

a)

Business Loan

b)

Consumer Loan

93.

Borrowing money for personal expenses.

a)

Business Loan

b)

Consumer Loan

94.

Borrowing money for family expenses.

a)

Business Loan

b)

Consumer Loan

95.

Borrowing money to fund a personal vacation.

a)

Business Loan

b)

Consumer Loan

96.

Mrs. Erika decided to take her family for a summer vacation. She applied for a bank loan to cover their expenses.

a)

Business Loan

b)

Consumer Loan

97.

Ms. Christy wants to open a second location for his auto repair business. She made the decision to apply for a loan that she may utilize to pay for the new branch's rentals.

a)

Business Loan

b)

Consumer Loan

98.

Jared runs a delivery business. He wants to buy five more delivery vans. To cover the expenses, he applied for a loan in a bank.

a)

Business Loan

b)

Consumer Loan

99.

For the remodeling of her car, Ms. Annie spent Php 120,000.00. This was made possible because of an approved loan worth Php 100,000.00.

a)

Business Loan

b)

Consumer Loan

100.

3. What do you call a loan that is secured by collateral?

a)

A. Amortization        

b)

B. Consumer loan           

c)

C. Annuity         

d)

D. Business loan

Similar Resources on Wayground

Competency Based Questions

100 questions

Competency Based Questions

quiz

Worksheet

•

10th Grade - University

secret qu!z!zz game

100 questions

secret qu!z!zz game

quiz

Worksheet

•

KG - Professional Dev...

PAKET 100 SOAL CPNS

100 questions

PAKET 100 SOAL CPNS

quiz

Worksheet

•

University - Professi...

PRE-CALCULUS review/quiz

100 questions

PRE-CALCULUS review/quiz

quiz

Worksheet

•

University

Evaluación General 1

100 questions

Evaluación General 1

quiz

Worksheet

•

University

BSP 1201_LONG QUIZ IN GEd 102: MATHEMATICS IN THE MODERN WORLD

100 questions

BSP 1201_LONG QUIZ IN GEd 102: MATHEMATICS IN THE MODERN WORLD

quiz

Worksheet

•

University

SOAL SISPRES KKG BULUAGUNG

100 questions

SOAL SISPRES KKG BULUAGUNG

quiz

Worksheet

•

5th Grade - University

test english

102 questions

test english

quiz

Worksheet

•

University