Free Printable Net Worth and Interest

1.

Ronnie invested $1400 in a retirement account that pays 5.5% compounded annually. Which expression can be used to determine the total value of Ronnie's investments after 12 years?

a)

$A=1400(1+0.055)^1$

b)

$A=1400(1+0.055)^{12}$

c)

$A=(1400+0.055)^{12}$

d)

$A=1400(1+12)^{5.5}$

2.

Julio invests $15,000 in a savings account that pays 1.5% simple interest. How much will be in the account after 5 years if Julio makes no withdrawals or deposits to the account?

a)

$1,125

b)

$16,125

c)

$15,125

d)

Not Here

3.

Mr. Juarez opened a savings account with an initial deposit of $560 and will not make any additional deposits or withdrawals. The account earns 1% simple interest. What is the total amount that Mr. Juarez will have in his account at the end of 3 years?

a)

$576.80

b)

$16.80

c)

$560

d)

$564

4.

Debts that are owed by an individual

a)

liabilities

b)

assets

c)

net worth

5.

The value of one's assets minus one's liabilities

a)

fixed income

b)

coupon

c)

net worth

d)

gross income

6.

Which is an example of a variable expense?

a)

car payment

b)

mortgage

c)

electricity bill

7.

Which type of expenses are these, rent, car payment?

a)

Crazy bills

b)

Variable expense

c)

Fixed expense

8.

Angie has $1062 in her savings account. If the bank pays 4% simple interest on savings, how much interest does she earn in 3 years?

(a)

9.

Ellen deposited $3,000 into an account that earns 5% compounded annually. She is planning to let the account earn interest for the next 2 years without making any deposits or withdrawals. Which would tell you the balance after two years?

a)

$3000\left(.05\right)\left(5\right)$

b)

$3000\left(1\ +\ .05\right)^2$

c)

$3000\left(1+.05\right)^2-3000$

d)

$3000\left(.05\right)\left(5\right)+3000$

10.

Write the percent as a decimal.
4.3%

a)

4.3

b)

.43

c)

.043

d)

4300

11.

What is the formula for simple interest?

a)

A=P(1+r)^t

b)

I=Prt

c)

I=P(1+r)t

d)

A=Prt

12.

Jin's total assets are $8,794. Her liabilities are $2,670 in credit card debt and $3,622 for a student loan. What is her net worth?

a)

$6,124

b)

$15,086

c)

-$4,328

d)

$2,502

13.

Based on the chart above, what is the Net Worth?

a)

$16,840

b)

$50,850

c)

$34,010

d)

$67,690

14.

Dinner at the Olive Garden cost $52.37. You leave a 20% tip. What is the total cost?

a)

$72.37

b)

$10.47

c)

$62.84

d)

$41.90

15.

If you receive 25% off an item costing $22.00, how much money do you save?

a)

$ 5.50

b)

$ 4.25

c)

$6.00

d)

$7.35

16.

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

Net Worth and Interest

Total questions: 16

Worksheet time: 1hrs 4mins

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