2.1-2.5 Test 2024

Last updated over 1 year ago

24 questions

2.1-2.5 Test 2024

Last updated over 1 year ago

24 questions

Mari needs to deposit $22,000 into a CD. She will earn 4.3% for 5 years compounded monthly. What will her APY be? round to the nearest hundredth.

Find the simple interest on a loan that has a $23,000 principal, deposited for 5 years at a rate of 4.45%.

Draggable item		Corresponding Item
account number		money paid to bank when they lend you money because account balance is below zero.
bank statement		a printed/electronic account record of debits, credits and interest over a certain amount of time
debit		unique set of numbers assigned to an account holder
overdraft fee

Spongebob deposited $7,000 in a CD account that pays 5.85% interest, compounded daily. What is the ending balance after 8 years?

Determine the APY if you deposit $82,000 for 5 years compounded weekly at 6%. Round to the nearest hundredth. (2 decimal places)

Thor deposits $11,000 into a 4-year CD at an interest rate of 5.9%, compounded monthly.
How much interest did the account earn during the 4 years?

Loki deposited $10,800 in an account that yields 3.95% interest, compounded semiannually. How much is in the account after 75 months?

You want to deposit 3 checks worth $117.18, $75.00, and $6.35. You also want to take out $80 cash. How much money do you have in your account if your starting balance (before the transactions) was $442.81?

Did the account reconcile?

What is the revised balance?

Heather has $52 and is going to save $4 per day for the next 82 days. How much money will she have after 82 days?

Wells Fargo Bank charges a $34 per check overdraft protection fee. On July 7, Nancy had $1,100 in her account. Over the next four days, the following checks arrived for payment at her bank:
July 8, $380.15
July 10, $670 and $125.67
July 11, $140
July 12, $85.60.

How much will she pay in overdraft protection fees?

How much will be in her account after all the checks have cleared(including fees as well)?

Find the rate if someone earned $350 for simple interest given a principal of $4,000 over 5 years, round to the nearest hundredth.

How many years will it take $8,000 to earn $900 at a rate of 5.2%? Round to the nearest tenth.

What is the balance after you put $8,000 on a CD, at a 6.75% for three years simple interest?

Eli currently has $385.61. She spent $25 at Starbucks, $29 at the donuts shop, and $61 at Verizon. She deposited a check from her dad for $150.00. She wrote three checks for $29.51, $56.78, and $22.00. How much will Eli have in her account after the all of the transactions clear her bank?

How much money will John have on 12/21 after he takes out $50 to buy his girlfriend a gift?

Katie has a checking account that has a balance of $1,025.53 in her check register. Not reported on her statement are some outstanding deposits totaling of $500.23 and some outstanding checks totaling $338.54. The balance on the bank statement is $863.84. Using these transactions, reconcile her account. Is her check register reconciled?

Fargo wants a new Playstation 5 for Christmas. He has $217. How much money does he need to deposit daily if it will cost him $550 to buy one in 38 days?

Jason and Julie have a joint checking account with a balance of $986.39. During the week, Jason goes to an ATM and withdraws $500. The following week, Julie deposited her paycheck of $1,534.25. Jason then pays bills online in the amounts of: $805.40, $395, $22.43, and $189.45. That same week, they also paid a maintenance fee of $21. What is the current balance in their checking account?

Jonathan estimates that it will cost $210,000 to send his newborn son to college in 18 years. He currently has $55,000 to deposit in an account. What simple interest rate would he need so that $55,000 grows into $210,000 in 18 years? Round to the nearest percent.

Valerie went to the bank to deposit three checks for the amounts of $138.00, $609.80, and $80.63. She wants to receive $85 back in cash. How much is she depositing?

Draggable item		Corresponding Item
9		personal information
5		Payee
1		amount/dollar box
6		amount/word format
7		purpose of check, reminder
8		date
3		signature line
11		bank information
4		routing number
2		bank account number
10		check number

2.1-2.5 Test 2024

2.1-2.5 Test 2024

Mari needs to deposit $22,000 into a CD. She will earn 4.3% for 5 years compounded monthly. What will her APY be? round to the nearest hundredth.

Find the simple interest on a loan that has a $23,000 principal, deposited for 5 years at a rate of 4.45%.

Spongebob deposited $7,000 in a CD account that pays 5.85% interest, compounded daily. What is the ending balance after 8 years?

Determine the APY if you deposit $82,000 for 5 years compounded weekly at 6%. Round to the nearest hundredth. (2 decimal places)

Thor deposits $11,000 into a 4-year CD at an interest rate of 5.9%, compounded monthly.How much interest did the account earn during the 4 years?

Loki deposited $10,800 in an account that yields 3.95% interest, compounded semiannually. How much is in the account after 75 months?

You want to deposit 3 checks worth $117.18, $75.00, and $6.35. You also want to take out $80 cash. How much money do you have in your account if your starting balance (before the transactions) was $442.81?

Did the account reconcile?

What is the revised balance?

Heather has $52 and is going to save $4 per day for the next 82 days. How much money will she have after 82 days?

How much will she pay in overdraft protection fees?

How much will be in her account after all the checks have cleared(including fees as well)?

Find the rate if someone earned $350 for simple interest given a principal of $4,000 over 5 years, round to the nearest hundredth.

How many years will it take $8,000 to earn $900 at a rate of 5.2%? Round to the nearest tenth.

What is the balance after you put $8,000 on a CD, at a 6.75% for three years simple interest?

Eli currently has $385.61. She spent $25 at Starbucks, $29 at the donuts shop, and $61 at Verizon. She deposited a check from her dad for $150.00. She wrote three checks for $29.51, $56.78, and $22.00. How much will Eli have in her account after the all of the transactions clear her bank?

How much money will John have on 12/21 after he takes out $50 to buy his girlfriend a gift?

Fargo wants a new Playstation 5 for Christmas. He has $217. How much money does he need to deposit daily if it will cost him $550 to buy one in 38 days?

Jonathan estimates that it will cost $210,000 to send his newborn son to college in 18 years. He currently has $55,000 to deposit in an account. What simple interest rate would he need so that $55,000 grows into $210,000 in 18 years? Round to the nearest percent.

Valerie went to the bank to deposit three checks for the amounts of $138.00, $609.80, and $80.63. She wants to receive $85 back in cash. How much is she depositing?

Mari needs to deposit $22,000 into a CD. She will earn 4.3% for 5 years compounded monthly. What will her APY be? round to the nearest hundredth.

Find the simple interest on a loan that has a $23,000 principal, deposited for 5 years at a rate of 4.45%.

Spongebob deposited $7,000 in a CD account that pays 5.85% interest, compounded daily. What is the ending balance after 8 years?

Determine the APY if you deposit $82,000 for 5 years compounded weekly at 6%. Round to the nearest hundredth. (2 decimal places)

Thor deposits $11,000 into a 4-year CD at an interest rate of 5.9%, compounded monthly.How much interest did the account earn during the 4 years?

Loki deposited $10,800 in an account that yields 3.95% interest, compounded semiannually. How much is in the account after 75 months?

You want to deposit 3 checks worth $117.18, $75.00, and $6.35. You also want to take out $80 cash. How much money do you have in your account if your starting balance (before the transactions) was $442.81?

Did the account reconcile?

What is the revised balance?

Heather has $52 and is going to save $4 per day for the next 82 days. How much money will she have after 82 days?

How much will she pay in overdraft protection fees?

How much will be in her account after all the checks have cleared(including fees as well)?

Find the rate if someone earned $350 for simple interest given a principal of $4,000 over 5 years, round to the nearest hundredth.

How many years will it take $8,000 to earn $900 at a rate of 5.2%? Round to the nearest tenth.

What is the balance after you put $8,000 on a CD, at a 6.75% for three years simple interest?

Eli currently has $385.61. She spent $25 at Starbucks, $29 at the donuts shop, and $61 at Verizon. She deposited a check from her dad for $150.00. She wrote three checks for $29.51, $56.78, and $22.00. How much will Eli have in her account after the all of the transactions clear her bank?

How much money will John have on 12/21 after he takes out $50 to buy his girlfriend a gift?

Fargo wants a new Playstation 5 for Christmas. He has $217. How much money does he need to deposit daily if it will cost him $550 to buy one in 38 days?

Jonathan estimates that it will cost $210,000 to send his newborn son to college in 18 years. He currently has $55,000 to deposit in an account. What simple interest rate would he need so that $55,000 grows into $210,000 in 18 years? Round to the nearest percent.

Valerie went to the bank to deposit three checks for the amounts of $138.00, $609.80, and $80.63. She wants to receive $85 back in cash. How much is she depositing?

What information goes in each location of the check?

Thor deposits $11,000 into a 4-year CD at an interest rate of 5.9%, compounded monthly.
How much interest did the account earn during the 4 years?

Thor deposits $11,000 into a 4-year CD at an interest rate of 5.9%, compounded monthly.
How much interest did the account earn during the 4 years?