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2.1-2.6 Test 2025

Last updated 4 days ago
25 questions
1

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.

1

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

1
Draggable itemCorresponding Item
account number
money paid to bank when they lend you money because account balance is below zero.
debit
a printed/electronic account record of debits, credits and interest over a certain amount of time
overdraft fee
unique set of numbers assigned to an account holder
bank statement
amount removed from an account to pay for goods or services
1

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

1

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

1

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?

1

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

1

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?

1

Did the account reconcile?

1

What is the revised balance?


1

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.
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

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

1

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?

2

What information goes in each location of the check?

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


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

1

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?

1

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?

1

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?

1

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.

1

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?

1

Austin has a savings account that compounds continuously. He is going to deposit $23,000 from saving his money in the Army for 3 years at a rate of 3.7%. How much money will have in 3 years?

Required
1

Determine the limit of the following function:




1

Mia invested $50,000, continuously compounded at a rate of 5.4%. How much money will she have after 6 years?