Financial Math Review Quiz

If you invest \$1,000 in an account that earns 5% simple interest per year, how much interest will you have earned after 3 years?

• \$100

• \$150

• \$200

• \$300

Tags

CCSS.7.RP.A.3

What is the future value of \$2,000 invested for 4 years at an annual compound interest rate of 6%?

• \$2,480

• \$2,524.64

• \$2,600

• \$2,800

Tags

CCSS.HSF.BF.A.2

If you borrow \$5,000 at an annual interest rate of 8% compounded annually, what will be the total amount owed after 2 years?

• \$5,800

• \$5,832

• \$5,616

• \$5,400

Which of the following is the formula for calculating simple interest?

Tags

CCSS.7.RP.A.3

A loan of \$10,000 is to be repaid in 5 years with an annual interest rate of 7% compounded annually. What is the total amount to be repaid at the end of 5 years?

• \$13,500

• \$14,025.52

• \$12,500

• \$15,000

If you deposit \$500 every year into an account that pays 4% interest compounded annually, what is the value of the account after 3 years? (Use the future value of an ordinary annuity formula.)

• \$1,560

• \$1,561.12

• \$1,624.32

• \$1,500

Which of the following best describes an annuity?

• A one-time payment

• A series of equal payments made at regular intervals

• A loan with variable interest

• A type of stock investment

Tags

CCSS.HSA.SSE.B.4

What is the present value of \$1,000 to be received in 3 years if the discount rate is 5% per year?

• \$863.84

• \$900.00

• \$950.00

• \$1,050.00

• 20%

• 25%

• 10%

• 15%

Tags

CCSS.6.RP.A.3C

Which of the following is the correct formula for compound interest?