Business Math- Final Review #2

Match the following pay periods to how often they occur.

• 1 time a week

• Biweekly

• 2 times a month

• Weekly

• Every 2 weeks

• Semimonthly

• 1 time a month

• Monthly

Match the following pay periods to how often they occur in a year.

• 12 times

• Weekly

• 26 times

• Biweekly

• 24 times

• Monthly

• 52 times

• Semimonthly

If John makes $2400 biweekly, what is his annual salary?

When budgeting, should you go off your gross pay or net pay?

• gross pay

• net pay

Which of the following exponential equations is the formula for compound interest?

• 
• 
• 
• 

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Match the different letters to what they represent.

• New total balance

• P

• Interest rate

• A

• Time

• R

• The number of times compounded per year

• N

• Principal- starting amount

• T

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Steve deposited $5,000 in a savings account that pays 4% interest compounded annually.

Which equation could be used to find the value of the account after 3 years?

• A = 5,000(1 + 4)³

• A = 5,000(1 + 0.04)³

• A = 5,000(1 + 0.4) x 3

• A = 5,000(0.04)³

Karla invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually.

What is the new balance after 15 years?

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

Emily would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years.

• $15,415.94
• $15,683.28
• $15,927.56
• $16,109.05

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.A.4

When using credit​, longer loan periods mean you pay​ (a)   and​ make (b)   If you have a shorter loan period you will pay ​ (c)   and ​make (d)  

• more interest
• smaller payments.
• less interest
• larger payments