Math Grade 8 6th Reporting Period Review

How much should Bruce expect the cost to be for 4 years at this university?

• $47,600

• $109,600

• $95,200

• $103,600

Matthew has worked a summer job and saved $900 each summer for the last 4 years. He

has been awarded a grant in the amount of $5,000. He received $3,000 in scholarships. He

has estimated the first year of college to be $13,000. If he uses his savings, the grant, and

his scholarship, how much more will he need to pay for the first year of college?

• $400

• $1,400

• $4,100

• $2,400

Janine has two choices for paying off her credit card balance. She can make payments of

$186 per month for 36 months to the credit card company, or she can borrow from the bank

and make payments of $162 per month for 36 months. How much money will she save if she

borrows the money from the bank to pay off her credit card balance?

• $927

• $28

• $972

• $864

Sarah wants to attend a private college with a yearly tuition of $31,000. Room and board cost are estimated to be $12,000 per year, and the cost of books and supplies is estimated to be $2,000.

Assuming she receives no financial aid, what will be the total cost for a degree from this college?

• $180,000

• $45,000

• $124,000

• None of these

Which of these are possible sources of financial aid for college students?

• Pell Grants

• Scholarships

• Institutional Grants

• All of these

If Michael invests $2000 at a rate of 5.5% for 6 years, how much simple interest will he gain?

• $660

• $550

• $6600

• $1100

7. Jessie invests $3345 in the stock market. She receives an average return of 7.8% interest rate. What will be the simple interest on her investment after 3 years?

• $782.31

• $850.00

• $900.00

• $1,000.00

• 2%

• 3%

• 4%

• 5%

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

Type the formula to find simple interest