Font size
WorksheetsNet Worth and Interest Practice
Total questions: 13
Worksheet time: 29mins
Which group contains exactly one liability and 2 assets?
Savings account, gift card, art work
Checking account, car, mortgage
Mortgage, bank loan, car payment
Stocks, retirement fund, coin collection
Max has assets worth $77,000 and a net worth of $35,000. What are his liabilities?
$119,000
$45,000
$42,000
$32,000
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?
1400(1+0.055)1
1400(1+0.055)12
(1400+0.055)12
(1400(1+12)5.5
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? (amount is principal + interest calculated)
Type with no units! Just the number
(a)
The Ortiz family's net worth statement is shown. What is their net worth?
$345,738
$231,126
$576,864
$114,612
Alondra deposited $500 of her allowance money in an account that earns 7% simple interest. She left it there for 10 years. What mistake did she make in her work?
She forgot to make 10 into a decimal.
She should be using the compound interest formula.
She should be dividing, not multiplying.
She forgot to make 500 into a decimal.
Shelia's assets total $209,425 and her liabilities total $120,370. What is Sheila’s net worth?
$209,425
$89,055
$329,795
$120,370
Marisol’s credit card has a 5% simple interest rate. She charges $12,500 to her credit card.
How much interest will she owe when she pays her credit card bill after a year?
$625
$13,125
$62,500
$6,250
THIS PROBLEM TAKES TIME TO SOLVE:
$16,100
$19,950
$12,250
$86,650
Type your answer with no units, just the number. (It says ACCOUNT)
(a)
What is a bank loan, mortgage, and savings bond?
Liability, liability, asset
Asset, asset, liability
All liabilities
Asset, liability, asset
Roberta has a loan of $3,550. This loan has a simple interest rate of 3% per year. What ist he amount of interest that Roberta will be charged on this loan at the end of one year? Type your answer with no units, just the number.
(a)
What is this person's net worth?
$115,045
$147,995
$131,520
$16,475
