Unit 3 Review

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?

• $1,584.62
• $2,651.39
• $2,706.86
• $1,825.10

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded monthly for three years.

• $4422.03
• $4427.62
• $4428.90
• $4429.51

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

What does the n stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.B.5

What does the P stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year

Tags

CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

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

• Principle
• Interest
• Time
• Percent Rate

You want to go on a special cruise with your significant other for your anniversary in 8 years. The cruise costs $5811 for both of you. You invest in an account with an interest rate of 3.4% compounded monthly. How much do you need to invest now to be able to take the trip?

• $4422.03

• $4427.62

• $4428.90

• $4429.51

You invest $1600 at an annual interest rate of 4.6% compounded continuously. How much will you have in the account after 4 years?

• $800.26

• $6,701.28

• $10,138.07

• $1,923.23

Jessica and Michael open an online savings account that has 3.6% annual interest rate, compounded monthly. If they deposit $1,200 every month, how much will be in the account after 10 years?

• 179,879.20

• $180,950.70

• $173,022.87

• $172,035.65

Kayla had a balance of $106.15 in her checking account. She deposited $75.00. What is her new balance?

• 41.15

• 171.15

• 31.15

• 181.15

Tags

CCSS.2.MD.C.8

CCSS.2.NBT.B.5

CCSS.2.OA.A.1

Jordan had a balance of $546.24 in his checking account. He wrote a check for $100.35. What is his new balance?

• 645.63

• 445.89

• 646.59

• 446.85