2nd Quiz 9th Grade

1. Semiannually is the same as 2 periods in a year.

True

False

2. You invested $52,400 at 6% compounded annually for 5 years. What is your total return on this investment?

$70,123.02

$17,000

$7,012

$701

3. Principal is the amount of money at the end of period.

True

False

4. M = 1000 (1 + 0.05)³ = $1572.62.

True

False

5. Your 2 year investment of $5,300 earns 2.9% and is compounded annually. What will your total return be?

$5,611.86

$200

$350

$6000

6. How much interest does a $318 investment earn at 9% over one year?

$28.62

$286.2

$2862

2.86

7. Interest Rate: 1% each yearStarting Balance: $147Time Passed: 6 yearsHow much interest has accrued if we are using simple interest?

$8.82

$6.52

$9.15

$156

8. Find the compound amount on the principal $20,000 borrowed at 6% compounded annually for 3 years.

$23820.32

$3820

$3000

$800