5.8 & 7.1 Quizizz Review

Use the 5.8 Chart. Carlene Sadhal deposits $1,900 in an ordinary annuity at the end of each quarter in an account earning 8% interest compounded quarterly.  What is the future vale of the account in 2 years?

• $14,891.09

• $16,307.64

• $18,987.22

• $22,430.01

Use the 5.8 Chart.  Florence Rice deposits $6,000 in an ordinary annuity at the end of each quarter in an account earning 6% interest compounded quarterly.  What is the future value of the account in 2 years?

• $34,450.10

• $45,800.00

• $48,778.98

• $50,597.04

Use the 5.8 Chart. Martin Randall deposits $500 in an ordinary annuity at the end of each quarter in an account earning 8% interest compounded quarterly.  What is the future value of the account in 2 years?

• $3,900.80

• $4,000.12

• $4,291.49

• $4,331.76

Ordinary annuity occurs when equal deposits are made at the

• end of each six week period.

• beginning of each six week period.

• end of each interest period.

• beginning of each interest period.

Marissa Palmer's charge account statement showed a previous balance of $142.55, a finance charge of $2.82, new purchases of $86.50, and a payment of $80.00.  What is her new balance?

• $123.54

• $147.52

• $151.87

• $187.55

Manny Fox's account statement showed a previous balance of $550, a finance charge of $3, new purchases of $600, and a payment of $250.  What is his new balance?

• $890

• $900

• $903

• $905

Adele Palmer's charge account statement showed a previous balance of $1,500, a finance charge of $5, new purchases of $150, and a payment of $80.00.  What is her new balance?

• $1,475

• $1,575

• $1,585

• $1,654

Lena Craig's charge account statement showed a previous balance of $1,100, a finance charge of $6, new purchases of $700, and a payment of $180.  What is her new balance?

• $1,626

• $1,766

• $1,866

• $1,888

Dante Michel's charge account statement showed a previous balance of $277.45, a finance charge of $3.22, new purchases of $299.33, and a payment of $316.00. What is his new balance?

• $234

• $264

• $267

• $287

Jared Moore's credit card statement showed a previous balance of $921.07, a finance charge of $13.80, new purchases of $962.01, and a payment of $990.37.  What is his new balance?

• $753.61

• $853.25

• $906.51

• $952.82