2nd Quiz 9th Grade
8 Questions
| Total Attempts: 30
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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