Personal Finances
Authored by Paula Campbell
Mathematics
12th Grade
Used 2+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
7 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Claire invested $1500 at 5% compounded semi-annually for 10 years. What is the amount of the investment at maturity?
Future Value of an Annuity
Present Value of an Annuity
Regular Compound Interest
Simple Interest
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Maurice is converting his RRSP into an income fund. He wishes to receive $1500 every six months for the next 20 years, starting 6 months from now. He is guaranteed an interest rate of 6.25% compounded semi-annually. How much must Maurice deposit now to set up his RRSP?
Future Value of an Annuity
Present Value of an Annuity
Regular Compound Interest Question
Payment of a Future Value
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Matthew borrowed $500 from the credit union for 90 days. The interest rate is 10.9% per year. How much must Matthew pay the credit union after 90 days?
Future Value of an Annuity
Regular Compound Interest
Regular Present Value
Simple Interest
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Annika deposited $800 in an account at the end of every 6-month period for 7 years. The account paid 9% compounded semi-annually. Determine the amount in the account on the date of the last deposit.
Future Value an Annuity
Payment of a Future Value
Regular Compound Interest
Present Value of an Annuity
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A mortgage of $190 000 is required to purchase a house. The mortgage will be repaid with equal monthly payments over 25 years at 8% compounded monthly. What is the monthly payment?
Payment of a Future Value
Payment of a Present Value
Present Value of an Annuity
Future Value of an Annuity
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Sid earned $3.21 interest on his savings account in January. His opening balance for the month was $945.63. She did not deposit or withdraw money during the month. The interest is calculated daily. What annual rate of interest does his account pay?
Regular Compound Interest
Regular Present Value
Payment of a Future Value
Simple Interest
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Rachel is saving for a down payment for a car. She needs $6000 three years from now. How much money must she deposit at the end of each quarter in an account that pays 4.4% compounded quarterly?
Payment of a Future Value
Future Value of an Annuity
Payment of a Present Value
Present Value of an Annuity
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Classlink
Continue with Clever
or continue with
Microsoft
%20(1).png)
Apple
Others
Already have an account?
