|
Directions: Answer these questions pertaining to finances. Assume no additional deposits or withdrawals are made. Round to the nearest cent. Grab your calculator!
1. |
Kyle invests $200 compounded annually at a fixed rate of 12% for 4 years. What will be the amount in the account at the end of 4 years?
|
|
|
|
2. |
Joe invests $3,000 at a 3% fixed simple interest rate for 5 years. Sue invests $3,000 at a 3% fixed rate compounded annually for 5 years. At the end of the 5 years who has more money, and how much more?
|
|
|
3. |
Maria puts all of her high school graduation money, $1,230, into an investment account and leaves it there for 4 years while she is in college. The account is earning 5.12% fixed interest compounded annually. How much money will she have at the end of the 4 years? |
|
|
|
4. |
How much interest is earned on a principle of $820 invested at a fixed simple annual interest rate of 6% for 8 years? |
|
|
|
5. |
How much interest is earned on a principle of $820 invested at a fixed annual compounded interest rate of 6% for 8 years?
|
 |
|
|
6. |
$500 is invested at a fixed annual compounded interest rate of 4½%. How much will be in the account at the end of the 10 years?
|
|
|
7. |
Isabel opens an account for $1400. After 3 years, her account has $1736. What was the simple annual interest rate on her account?
|
|
|
8. |
How much should Juan deposit in an account that pays 10% interest compounded annually, to have a balance of $732.05 after 4 years?
|
|
|
9. |
Luke invests $18,000 at a fixed annual interest rate of 12% compounded quarterly for 4 years. How much will his investment be at the end of 4 years?
|
|
|
10. |
Arlene puts $650 in an account that pays a fixed annual interest rate of 5.5% compounded monthly. How much will Arlene have in her account at the end of 15 years?
|
|
|
NOTE: The re-posting of materials (in part or whole) from this site to the Internet
is copyright violation
and is not considered "fair use" for educators. Please read the "Terms of Use". |
|
