Reference no: EM132799236

Questions -

Q1. Mason deposited $763.21 in a savings account that earns 1.7% simple interest. What is Mason's account balance after nine years?

A. $116.77

B. $776.18

C. $879.98

D. $1,167.71

Q2. Liam deposited $1,859.69 in a savings account that earns 2.4% simple interest. What will Liam's account balance be in 9 months?

A. $1,859.69

B. $1,893.16

C. $1,904.32

D. $2,261.38

Q3. Mae currently has a balance of $8,484.79 in an account earning simple interest. Seventeen years ago she opened the account with an initial deposit of $4,854. What is the interest rate on the account?

A. 4.4%

B. 2.5%

C. 10.3%

D. 5.9%

Q4. Adair has deposited $361 in a savings account that earns interest at a rate of 1.3% compounded daily. What will the account balance be in 16 years?

A. $469.30

B. $365.69

C. $580.02

D. $444.47

Q5. Ricardo has an account balance of $419.21 in a savings account that earns interest at a rate of 5.5% compounded quarterly. If Ricardo opened the account seven years ago, what was the principal deposit?

A. $397

B. $286

C. $360

D. $302

Q6. Allie currently has an account balance of $2,265.96. She opened the account 13 years ago with a deposit of $1,227.43. If the interest compounds daily, what is the interest rate on the account?

A. 1.9%

B. 10.5%

C. 9.7%

D. 4.7%

Q7. Lance opened a savings account 30 years ago with a deposit of $4,199.61. The account has an interest rate of 2.8% compounded daily. How much interest has Lance earned?

A. $4,199.61

B. $5,416.57

C. $5,527.91

D. $4,317.20

Q8. Carissa deposited $4,232.56 into a savings account with an interest rate of 3.4% compounded daily. About how long will it take for the account to be worth $7,000?

A. 48 years, 8month

B. 15 years, 1 months

C. 19 years, 3 months

D. 14 years, 10 months

Q9. A certain business has implemented a new incentive plan whereby an employee earns tokens for every sale they make.

For 1 sale, an employee earns 1 token.

For 2 sales, an employee earns 6 tokens.

For 3 sales, an employee earns 12 tokens.

For 4 sales, an employee earns 19 tokens.

How many tokens will be earned for eight sales?

A. 46

B. 48

C. 53

D. 57

Q10. Edgar purchased a home for $182,100. The home appreciates about 3.5% each year. What is the value of the home after 12 years?

A. $118,751.12

B. $275,165.60

C. $258,582.00

D. $188,576.74

Q11. Edgar purchased a home for $182,100. The home appreciates about 3.5% each year. What is the value of the home after 12 years?

A. $118,751.12

B. $275,165.60

C. $258,582.00

D. $188,576.74

Q12. Lily purchased a lawn mower for $2,285. It depreciates 1.1% each year. What is the value of the lawn mower after six years?

A. $2,138.28

B. $2,259.86

C. $2,272.46

D. $2,440.02