8.12A-G - Personal Financial Literacy

8.12A-G - Personal Financial Literacy

8th Grade

17 Qs

quiz-placeholder

Similar activities

Simple interest 2022

Simple interest 2022

8th Grade

15 Qs

Simple & Compound Interest (15 Q's)

Simple & Compound Interest (15 Q's)

8th Grade

15 Qs

Financial Literacy Review

Financial Literacy Review

8th Grade

20 Qs

Comparing Simple and Compound Interest

Comparing Simple and Compound Interest

8th Grade

13 Qs

KAP Personal Financial Literacy Review (Test 5)

KAP Personal Financial Literacy Review (Test 5)

6th - 8th Grade

16 Qs

Unit 11 Review - Financial Literacy

Unit 11 Review - Financial Literacy

8th Grade

16 Qs

Financial Lit. :Simple & Compound Interest, Terms of Loan

Financial Lit. :Simple & Compound Interest, Terms of Loan

8th Grade

20 Qs

Simple and Compound Interest

Simple and Compound Interest

7th - 8th Grade

15 Qs

8.12A-G - Personal Financial Literacy

8.12A-G - Personal Financial Literacy

Assessment

Quiz

Mathematics

8th Grade

Easy

CCSS
7.RP.A.2, 7.RP.A.3

Standards-aligned

Created by

Linnon Thomas

Used 5+ times

FREE Resource

17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

A customer will borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest?

A 4-year loan with a 5.2% annual simple interest rate

A 5-year loan with a 4.2% annual simple interest rate

A 6-year loan with a 4.7% annual simple interest rate

A 3-year loan with an 8.4% annual simple interest rate

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Two customers took out loans from a bank. Henry took out a 4-year loan for $5,000 and paid 4.2% annual simple interest. Ingrid took out a 6-year loan for $5,000 and paid 3.9% annual simple interest. What is the difference between the amounts of interest Henry and Ingrid paid for their loans?

$417

$150

$60

$330

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

A business owner opens a new investment account with a $10,000.00 deposit. The investment account earns 2.5% interest, compounded annually. How much interest will the investment account earn at the end of the first year?

$250.00

$500.00

$506.25

$562.50

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Monica wants to open a savings account with a deposit of $3,000. She will not make any additional deposits or withdrawals after opening the account. Her bank offers two different savings accounts. Account X pays 2.1% simple annual interest, and Account Y pays 2.4% interest compounded annually. Which statement about these accounts at the end of 5 years is true?

Account X would earn Monica about $62.70 more interest than Account Y.

Account Y would earn Monica about $62.70 more interest than Account X.

Account X would earn Monica about $45.00 more interest than Account Y.

Account Y would earn Monica about $45.00 more interest than Account X.

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Larry put $1,287 into a savings account 8 years ago. The account earned 4% simple annual interest. He made no additional deposits or withdrawals. Based on this information, what is the balance in dollars and cents in Larry’s savings account at the end of these 8 years?

$1,500.00

$1,689.84

$1,287.00

$1,400.00

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

A student’s parents invested $5,000 in a college savings account that pays 4.85% annual simple interest. No additional deposits or withdrawals will be made. Which amount is closest to the interest earned on the account at the end of 15 years?

$5,174.11

$10,174.11

$3,637.50

$8,637.50

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Mr. Jenkins deposited $1,250 into an account. He made no additional deposits or withdrawals. Mr. Jenkins earned 4.25% annual simple interest on the money in the account. What was the balance in dollars and cents in Mr. Jenkins’s account at the end of 4 years?

$1,462.50

$1,500.00

$1,400.00

$1,475.00

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?