Interest/PFL Review

1. How much interest will Cassandra earn at the end of 4 years?

• $16.25

• $65.00

• $2,000.00

• $6,500.00

What will be the total balance in Cassandra's savings account?

• $65.00

• $500.00

• $565.00

• $6,500.00

Which option should Nathaniel choose if he wants to pay the least amount of interest?

• Bank A

• Bank B

• Bank C

• None

Which statement best explains why the money in the account is growing over time?

• A

• B

• C

• D

What will be the balance of Michael’s savings account at the end of 6 years?

• $2,205,918.75

• $4,200.00

• $1,230.00

• $1,391.63

How much interest did Michael earn at the end of 6 years?

• $191.63

• $1,391.63

• $30.00

• $180.00

Which repayment option costs less? How much less does it cost?

• Option 2 costs $75 less than option 1.

• Option 1 costs $75 less than option 2.

• Option 1 costs $1,200 less than option 2.

• Option 2 costs $1,200 less than option 1.

What is the difference in the amount of interest that Elliot would pay for each of these loans?

• $1,800.00

• $1,560.00

• $12,000.00

• $3,360.00

What will be the difference in their account balances after 5 years?

• $3,750.00

• $145.08

• $10.08

• $750.00

What will be the total amount that Stephanie has in both accounts after 3 years if she makes no additional deposits or withdrawals?

• $1,466.70

• $739.80

• $726.90

• $2,160.00