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