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Copy of PF Quiz Review (5/21/2025)

Poslední aktualizace 6 months ago

8 Dotazy

Poznámka od autora:

Solve the problems below.

Instrukce

Solve the problems below.

Use the Rule of 72 formula below to answer the questions.

Number of years = \frac{72}{\%}

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4

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Otázka 1

1.

You deposit $12,000 in a savings plan with an annual rate of 2%. How long will it take to double your money?

Otázka 2

2.

You deposit $2,000 in a savings plan with an annual rate of 9%. How long will it take to double your money?

Otázka 3

3.

You deposit $4,000 in a savings plan with an annual rate of 4%. How long will it take to double your money?

Otázka 4

4.

You deposit $5,600 in a savings plan with an annual rate of 3%. How long will it take to double your money?

Otázka 5

5.

You deposit $600 in a savings plan with an annual rate of 1%. How long will it take to double your money?

Otázka 6

6.

You have invested $800 at 12% interest. According to the Rule of 72, how soon will the money double in value?

Otázka 7

7.

Four types of savings accounts are: _______________

Online Savings Account

Traditional Saving Account

Investments

Traditional Checking Account

Certificate of Deposit

IRA

Money Market Account

Otázka 8

8.

Compound Interest is best if it is compounded