1.
Martha deposited $400 in a savings account. The account earns 7.15% interest annually. If she does not deposit or withdraw any money for 30 months, how much will she have in her account.
A.
$610
B.
$210
C.
$71.50
D.
$471.50
Hint
2.
Each month, a credit card company charges an annual interest rate of 14.9% on the unpaid balance of the account. Mrs. Jones pays $200 of her $950 balance. If she does not charge any other items, find the amount of interest she will pay next month.
A.
$11.80
B.
$141.55
C.
$111.75
D.
$9.31
Hint
3.
Find the total amount in the account to the nearest cent if $900 is deposited in an account with an annual interest rate of 6.25% for 7 months.
A.
$393.75
B.
$932.81
C.
$32.81
D.
$1,293.75
Hint
4.
Nick borrowed $5,500.00 to purchase a used car. The bank charges 10.25% interest on Nick's loan for a period of 5 years. Find the amount of interest Nick will pay on his loan.
A.
$281.88
B.
$8,318.75
C.
$2,818.75
D.
$5,781.88
Hint
5.
Find the total amount in an account to the nearest cent if $750 is deposited at 8.2% for 1
years.
A.
$840.00
B.
$842.25
C.
$811.50
D.
$92.25
Hint