Algebra I.3.A.04 - Why Do Banks Pay YOU to Provide Their Services? – Exit Ticket
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Last updated about 3 years ago
3 Questions
10 points
10
Question 1
1.
A youth group has a yard sale to raise money for a charity.The group earns $800
but decides to put its money in the bank for a while.
Calculate the amount of money the group will have if,
Cool Bank pays simple interest at a rate of 4%, and the youth group leaves the
money in for 3 years.
A youth group has a yard sale to raise money for a charity.The group earns $800
but decides to put its money in the bank for a while.
Calculate the amount of money the group will have if,
Cool Bank pays simple interest at a rate of 4%, and the youth group leaves the
money in for 3 years.
10 points
10
Question 2
2.
A youth group has a yard sale to raise money for a charity.The group earns $800
but decides to put its money in the bank for a while.
Calculate the amount of money the group will have if,
Hot Bank pays an interest rate of 3% compounded annually, and the youth group
leaves the money in for 5 years.
A youth group has a yard sale to raise money for a charity.The group earns $800
but decides to put its money in the bank for a while.
Calculate the amount of money the group will have if,
Hot Bank pays an interest rate of 3% compounded annually, and the youth group
leaves the money in for 5 years.
10 points
10
Question 3
3.
If the youth group needs the money quickly, which is the better choice?Why?
If the youth group needs the money quickly, which is the better choice?Why?
From EngageNY.org of the New York State Education Department. High School 1 Algebra, Module 3, Topic A, Lesson 4. Internet. Available from https://www.engageny.org/resource/algebra-i-module...; accessed 27/Oct/2015.