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1. |
The Mendoza family just bought a house for $180,000. If the value of the house increases at a rate of 3% per year, about how much will it be worth in 10 years? |
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A. |
$242,000 |
B. |
$258,000 |
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C. |
$234,000 |
D. |
$250,000 |
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Hint |
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2. |
If a $5000 piece of equipment looses value at a rate of 5% per year, how much will it be worth after 5 years? |
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A. |
$4279.35 |
B. |
$3868.90 |
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C. |
$4011.62 |
D. |
$6381.41 |
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Hint |
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3. |
Ricky invested $1000 in an account at 8% interest compounded quarterly. How much money will he have earned on the account after 7 years? |
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A. |
$741.02 |
B. |
$1,713.82 |
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C. |
$713.82 |
D. |
$1,741.02 |
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Hint |
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4. |
Each year, new computers are built with better technology, making older ones less valuable. If the computers looses value at a rate of 20% per year, how much will a $1500 computer be worth in ten years? |
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A. |
$9,287.60 |
B. |
$1,200 |
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C. |
near $0 |
D. |
$161.06 |
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Hint |
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5. |
Suppose inflation of money is at a rate of 3% per year in the United States. How much will a $1 candy bar cost in 30 years? |
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A. |
$0.40 |
B. |
$2.43 |
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C. |
$1.90 |
D. |
$4.32 |
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Hint |
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