Retake 2.1-2.5 Test 2024

1

Fargo wants a new Playstation 5 for Christmas. He has $232. How much money does he need to deposit daily if it will cost him $357to buy one in 26 days?

1

Find the simple interest on a loan that has a $29,000 principal, deposited for 7 years at a rate of 4.15%.

1

Spongebob deposited $8,000 in a CD account that pays 5.22% interest, compounded daily. What is the ending balance after 6 years?

1

Determine the APY if you deposit $18,000 for 7 years compounded weekly at 4%. Round to the nearest hundredth. (2 decimal places)

1

Mari needs to deposit $24,000 into a CD. She will earn 4.8% for 6 years compounded semiannually. What will her APY be? Round to the nearest hundredth.

0.6

Thor deposits $91,000 into a 3-year CD at an interest rate of 4.3%, compounded daily.
How much interest did the account earn during the 4 years?

0.7

Loki deposited $18,300 in an account that yields 3.75% interest, compounded monthly. How much is in the account after 79 months?

1

You want to deposit 3 checks worth $147.18, $72.20, and $16.53. You also want to take out $90 cash. How much money do you have in your account if your starting balance (before the transactions) was $721.58?

1

Did the account reconcile?

Ending Balance: $512.36
Deposits: $498.42
checking Oustanding: $312.50
Revised Statement Balance: $$$$$$
Check Register Balance: $754.33

0.7

What is the revised balance?

1

Heather has $76 and is going to save $5 per day for the next 79 days. How much money will she have after 79 days?

Wells Fargo Bank charges a $32 per check overdraft protection fee. On July 7, Nancy had $800 in her account. Over the next four days, the following checks arrived for payment at her bank:
July 8, $380.15
July 10, $470 and $105.67
July 11, $140
July 12, $85.60.

1

How much will she pay in overdraft protection fees?

1

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

1

Find the rate if someone earned $450 for simple interest given a principal of $7,000 over 5 years, round to the nearest hundredth.

1

How many years will it take $9,000 to earn $700 at a rate of 5.4%? Round to the nearest tenth.

0.6

What is the balance after you put $6,000 on a CD, at a 6.45% for four years simple interest?

0.7

Eli currently has $323.51. She spent $15 at Starbucks, $8 at the donut shop, and $68 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 all of the transactions clear her bank?

1

How much money do you have at the end of 5/10 if your initial deposit was $1,450?

1

Katie has a checking account that has a balance of $1,085.53 in her check register. Not reported on her statement are some outstanding deposits totaling of $500.23 and some outstanding checks totaling $318.54. The balance on the bank statement is $863.84. Using these transactions, reconcile her account. Is her check register reconciled?

1

Jason and Julie have a joint checking account with a balance of $923.39. During the week, Jason goes to an ATM and withdraws $400. The following week, Julie deposited her paycheck of $1,524.25. 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 $28. What is the current balance in their checking account?

1

Jonathan estimates that it will cost $200,000 to send his newborn son to college in 18 years. He currently has $59,000 to deposit in an account. What simple interest rate would he need so that $59,000 grows into $200,000 in 18 years? Round to the nearest percent.

0.6

Valerie went to the bank to deposit three checks for the amounts of $118.00, $618.20, and $84.53. She wants to receive $75 back in cash. How much is she depositing?

1

Fargo wants a new Playstation 5 for Christmas. He has $232. How much money does he need to deposit daily if it will cost him $357to buy one in 26 days?

Find the simple interest on a loan that has a $29,000 principal, deposited for 7 years at a rate of 4.15%.

Spongebob deposited $8,000 in a CD account that pays 5.22% interest, compounded daily. What is the ending balance after 6 years?

Determine the APY if you deposit $18,000 for 7 years compounded weekly at 4%. Round to the nearest hundredth. (2 decimal places)

Mari needs to deposit $24,000 into a CD. She will earn 4.8% for 6 years compounded semiannually. What will her APY be? Round to the nearest hundredth.

Thor deposits $91,000 into a 3-year CD at an interest rate of 4.3%, compounded daily.How much interest did the account earn during the 4 years?

Loki deposited $18,300 in an account that yields 3.75% interest, compounded monthly. How much is in the account after 79 months?

You want to deposit 3 checks worth $147.18, $72.20, and $16.53. You also want to take out $90 cash. How much money do you have in your account if your starting balance (before the transactions) was $721.58?

Did the account reconcile? Ending Balance: $512.36Deposits: $498.42checking Oustanding: $312.50Revised Statement Balance: $$$$$$Check Register Balance: $754.33

What is the revised balance?

Heather has $76 and is going to save $5 per day for the next 79 days. How much money will she have after 79 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 $450 for simple interest given a principal of $7,000 over 5 years, round to the nearest hundredth.

How many years will it take $9,000 to earn $700 at a rate of 5.4%? Round to the nearest tenth.

What is the balance after you put $6,000 on a CD, at a 6.45% for four years simple interest?

Eli currently has $323.51. She spent $15 at Starbucks, $8 at the donut shop, and $68 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 all of the transactions clear her bank?

How much money do you have at the end of 5/10 if your initial deposit was $1,450?

Jonathan estimates that it will cost $200,000 to send his newborn son to college in 18 years. He currently has $59,000 to deposit in an account. What simple interest rate would he need so that $59,000 grows into $200,000 in 18 years? Round to the nearest percent.

Valerie went to the bank to deposit three checks for the amounts of $118.00, $618.20, and $84.53. She wants to receive $75 back in cash. How much is she depositing?

Luis wants to buy an apple watch. He has $250 and will save $3 a day. How much money will he have in 38 days?

Thor deposits $91,000 into a 3-year CD at an interest rate of 4.3%, compounded daily.
How much interest did the account earn during the 4 years?

Did the account reconcile?

Ending Balance: $512.36
Deposits: $498.42
checking Oustanding: $312.50
Revised Statement Balance: $$$$$$
Check Register Balance: $754.33