2nd Quiz 9th Grade

8 Questions | Total Attempts: 30

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2nd Quiz 9th Grade


Questions and Answers
  • 1. 
    How much interest does a $318 investment earn at 9% over one year?
    • A. 

      $28.62

    • B. 

      $286.2

    • C. 

      $2862

    • D. 

      2.86

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

      $70,123.02

    • B. 

      $17,000

    • C. 

      $7,012

    • D. 

      $701

  • 3. 
    Your 2 year investment of $5,300 earns 2.9% and is compounded annually. What will your total return be?
    • A. 

      $5,611.86

    • B. 

      $200

    • C. 

      $350

    • D. 

      $6000

  • 4. 
    Semiannually is the same as  2 periods in a year.
    • A. 

      True

    • B. 

      False

  • 5. 
    Principal is the amount of money at the end of period.
    • A. 

      True

    • B. 

      False

  • 6. 
    M = 1000 (1 + 0.05)3 = $1572.62.
    • A. 

      True

    • B. 

      False

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

      $8.82

    • B. 

      $6.52

    • C. 

      $9.15

    • D. 

      $156

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

      $23820.32

    • B. 

      $3820

    • C. 

      $3000

    • D. 

      $800

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