Chapter 2 Part 2 Test 2024

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1

Francis deposits $40 into her savings every time she is paid. She is paid semimonthly, and her account earns 1.75% compounded semimonthly. How much money will she have at the end of six years?

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1

Find the simple interest on a $5,049 principal, deposited for 9 years at a rate of 2.3%. Round to the nearest cent.

Celine deposits $11,700 in a savings account that pays 4.25% interest, compounded semi-annually. 

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How much money will Celine have after 6 years?

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How much interest will Celine have earned after 6 years?

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How much money would Mr. Garcia have on a $48,000 deposit for 82 months at 5.47% interest, compounded continuously?

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1

Sandra is 8 years old and needs $38,000 for college. Her parents want to start saving for college with their savings account which makes 2.1% interest and is compounded monthly. How much must Sandra's parents deposit monthly in order to make enough money by the time she is 18?

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Deadpool deposits $15,000 into a 6-year CD at an interest rate of 3.9%, compounded weekly. What is the annual percentage yield? Round to the nearest hundredth.

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Austin has a savings account that compounds continuously. He is going to deposit $23,000 from saving his money in the Army for 4 years at a rate of 2.5%. How much money will have in 4 years?

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Pepito would like to have $4,500 for a vacation for his family in 3 years. His CD will pay him 2.6%, compounded monthly. How much money does he need to deposit today to earn that amount?

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1

Owen needs to figure out how much interest he has made in the last 9 years. He started with $9,800 at a simple interest rate of 2.35%. How much interest did he make?

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1

Federico deposited $550 into an account every two weeks (biweekly) that yields a 2.9% interest, compounded biweekly. How much is in the account after 90 months?

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3

Match the correct problem to the formula you would use.
I. Andrea needs $1,000 for her Morgan Wallen concert. How much money does she need to save each month for the year at a rate of 1.3%, compounded monthly?

II. Daniel is putting $3,000 into an account that yields 3.4% compounded semi-annually for 4 years. How much money will he have after 4 years?

III. Bradley wants to buy a vehicle and needs $8,000 in 2 years. How much does he need to deposit today if his account compounds daily at a rate of 2.3%?

Draggable item		Corresponding Item
I.		Present Value of a Single deposit
III.		Future Value of a Single Deposit
II.		Present value of a periodic deposit

1

Determine the limit of the following function:

1

What equation would you use to find the answer to the following question?
Anthony wants to go on a $7,000 vacation to the Dominican republic in 4 years. How much does he need to deposit today if the account yields 2.3% and is compounded monthly?

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1

Katie wants to install a pool in five years. She will need $78,000 to cover the cost. How much should she deposit monthly into an account that pays 3.4% interest compounded monthly in order to reach this goal?

1

Green Goblin deposits $65,000 into a 3-year CD at an interest rate of 4.15%, compounded weekly. What is the annual percentage yield(APY)? Round to the nearest hundredth(two decimal places!).

1

Find the simple interest on a $35,000 principal, deposited for 5 years at a rate of 5.54%.

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1

Linda and Rob open an online savings account that has a 3.6% annual interest rate, compounded monthly. If they deposit $1,200 annually how much will be in the account after 10 years?

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1

Gavin wants to save $3,000 to go on vacation in five years. He needs to deposit money today, which will be compounded daily at 3.2%. How much money should he deposit to earn his $3,000?

Required

1

Francis deposits $40 into her savings every time she is paid. She is paid semimonthly, and her account earns 1.75% compounded semimonthly. How much money will she have at the end of six years?

Find the simple interest on a $5,049 principal, deposited for 9 years at a rate of 2.3%. Round to the nearest cent.

How much money will Celine have after 6 years?

How much interest will Celine have earned after 6 years?

How much money would Mr. Garcia have on a $48,000 deposit for 82 months at 5.47% interest, compounded continuously?

Sandra is 8 years old and needs $38,000 for college. Her parents want to start saving for college with their savings account which makes 2.1% interest and is compounded monthly. How much must Sandra's parents deposit monthly in order to make enough money by the time she is 18?

Deadpool deposits $15,000 into a 6-year CD at an interest rate of 3.9%, compounded weekly. What is the annual percentage yield? Round to the nearest hundredth.

Austin has a savings account that compounds continuously. He is going to deposit $23,000 from saving his money in the Army for 4 years at a rate of 2.5%. How much money will have in 4 years?

Pepito would like to have $4,500 for a vacation for his family in 3 years. His CD will pay him 2.6%, compounded monthly. How much money does he need to deposit today to earn that amount?

Owen needs to figure out how much interest he has made in the last 9 years. He started with $9,800 at a simple interest rate of 2.35%. How much interest did he make?

Federico deposited $550 into an account every two weeks (biweekly) that yields a 2.9% interest, compounded biweekly. How much is in the account after 90 months?

Determine the limit of the following function:

What equation would you use to find the answer to the following question?Anthony wants to go on a $7,000 vacation to the Dominican republic in 4 years. How much does he need to deposit today if the account yields 2.3% and is compounded monthly?

Katie wants to install a pool in five years. She will need $78,000 to cover the cost. How much should she deposit monthly into an account that pays 3.4% interest compounded monthly in order to reach this goal?

Green Goblin deposits $65,000 into a 3-year CD at an interest rate of 4.15%, compounded weekly. What is the annual percentage yield(APY)? Round to the nearest hundredth(two decimal places!).

Find the simple interest on a $35,000 principal, deposited for 5 years at a rate of 5.54%.

Linda and Rob open an online savings account that has a 3.6% annual interest rate, compounded monthly. If they deposit $1,200 annually how much will be in the account after 10 years?

Gavin wants to save $3,000 to go on vacation in five years. He needs to deposit money today, which will be compounded daily at 3.2%. How much money should he deposit to earn his $3,000?

Mia invested $60,000, continuously compounded at a rate of 4.5%. How much money will she have after 4 years?

What equation would you use to find the answer to the following question?
Anthony wants to go on a $7,000 vacation to the Dominican republic in 4 years. How much does he need to deposit today if the account yields 2.3% and is compounded monthly?