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Copy of PF Quiz Review (5/21/2025)
By Josh Thomas
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Last updated 24 days ago
8 questions
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Instructions
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Solve the problems below.
Solve the problems below.
Use the Rule of 72 formula below to answer the questions.
Number of years = \frac{72}{\%}
Question 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?
Question 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?
Question 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?
Question 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?
Question 5
5.
You deposit $600 in a savings plan with an annual rate of 1%. How long will it take to double your money?
Question 6
6.
You have invested $800 at 12% interest. According to the Rule of 72, how soon will the money double in value?
Question 7
7.
Question 8
8.
Compound Interest is best if it is compounded__________
Four types of savings accounts are: _______________
Online Savings Account
Traditional Saving Account
Investments
Traditional Checking Account
Certificate of Deposit
IRA
Money Market Account