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.
$210
B.
$471.50
C.
$610
D.
$71.50
Hint
2.
Jerry borrowed $3,900 to purchase a used car. He will be paying $137.80 for the next 30 months. Find the simple interest rate on the loan.
A.
5%
B.
6%
C.
2.4%
D.
3.6%
Hint
3.
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.
$141.55
B.
$9.31
C.
$11.80
D.
$111.75
Hint
4.
James has a bank account with $500.00 that collects 2.875% interest annually. How much will be in James' account after 24 months if no transactions are made?
A.
$471.25
B.
$528.75
C.
$28.75
D.
$3,375.00
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.
$92.25
C.
$842.25
D.
$811.50
Hint