Fin Alg Types of Interest

Fin Alg Types of Interest

12th Grade

15 Qs

quiz-placeholder

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Fin Alg Types of Interest

Fin Alg Types of Interest

Assessment

Quiz

Mathematics

12th Grade

Medium

Created by

Danielle Deutsch

Used 3+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

April invests $300 at a 4.5% rate in an account that earns simple interest. How much interest will she earn after 2 years?

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Lex has $1,780.80 in his savings account that he opened 6 years ago. His account has an annual interest rate of 6.8% compounded annually. How much money did Lex use to open his savings account?

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Ron and Amie opened an educational savings account for their daughter when she was born making a $5,000 initial investment. They were unable to ever add anything else to the account. What was the interest rate if they had $10,000 in the account after 12 years?

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Doug invested $2,500 into a CD that compounds annually for 10 years. If his money doubled in that time, what was the interest rate on the CD?

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

An investment earns 3% each year and is compounded monthly. Calculate the total value after 6 years from an initial investment of $5,000.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

If you deposit $4000 into an account paying 6% annual interest compounded quarterly, how much money will be in the account after 5 years? 

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Isabella deposited $500 into a savings account at a local bank that earned 5% interest. How much interest does she earn per year?

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