Question 1 (1 point)     Saved             The exact number…

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Question 1 (1 point)     Saved             The exact number…

Question 1 (1 point)

 

 

Saved

 

 

 

 

 

 

The exact number of days between January 25, 2012 and March 25, 2012 is?

Question 1 options:

 

A) 

59 days

 

B) 

62 days

 

C) 

63 days

 

D) 

61 days

 

E) 

60 days

 

Question 2 (1 point)

 

 

Saved

 

 

 

 

 

 

The exact number of days between January 5 and March 17 during the next leap year is?

Question 2 options:

 

A) 

74 days

 

B) 

72 days

 

C) 

73 days

 

D) 

71 days

 

E) 

75 days

 

Question 3 (1 point)

 

 

Saved

 

 

 

 

 

 

Calculate the amount of interest if $2000.00 is invested at 6% for 200 days.

Question 3 options:

 

A) 

$120.00

 

B) 

$65.75

 

C) 

$54.25

 

D) 

$240.00

 

E) 

$6575.34

 

Question 4 (1 point)

 

 

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You owe $3572.75 in 147 days and have decided to pay off your loan early. Your interest rate is 6.52%. What is the size of the cheque that you write today to pay off all of your debt?

Question 4 options:

 

A) 

$4381.33

 

B) 

$3481.33

 

C) 

$3814.33

 

D) 

$3581.33

 

E) 

$3381.33

 

Question 5 (1 point)

 

 

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Calculate the amount of interest if $700.00 is invested at 5.5% for two years and nine months.

Question 5 options:

 

A) 

$111.65

 

B) 

$158.65

 

C) 

$1058.75

 

D) 

$105.88

 

E) 

$10 587.50

 

Question 6 (1 point)

 

 

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You have $4447 invested in a 180-day savings certificate at an interest rate of 3.65%. How much money will you have when the certificate matures?

Question 6 options:

 

A) 

$4527.05

 

B) 

$4257.05

 

C) 

$5427.05

 

D) 

$4572.05

 

E) 

$5472.05

 

Question 7 (1 point)

 

 

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You have $5000 invested in a 30-day savings certificate at an interest rate of 1.00%. How much money will you have when the certificate matures?

Question 7 options:

 

A) 

$5040.11

 

B) 

$5400.11

 

C) 

$4500.11

 

D) 

$5004.11

 

E) 

$4.11

 

Question 8 (1 point)

 

 

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How much interest will you pay on a loan of $15 500 if you are paying the loan off in 9 months? Your loan rate is 7.125%.

Question 8 options:

 

A) 

$818.28

 

B) 

$838.28

 

C) 

$828.28

 

D) 

$848.28

 

E) 

$858.28

 

Question 9 (1 point)

 

 

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How much money do you have to invest in order to accumulate a total of $10 000 in 365 days if you are able to earn 5.00% on your money?

Question 9 options:

 

A) 

$8523.81

 

B) 

$9533.81

 

C) 

$9523.81

 

D) 

$10000.81

 

E) 

$5923.81

 

Question 10 (1 point)

 

 

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How much money do you have to invest in order to accumulate a total of $4761 in 327 days if you are able to earn 9.52% on your money?

Question 10 options:

 

A) 

$4358.86

 

B) 

$3845.86

 

C) 

$4386.85

 

D) 

$3485.86

 

E) 

$3458.86

 

Question 11 (1 point)

 

 

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What rate of interest did you earn for a period of 2417 days if you invested $175 and you earned $222 in interest?

Question 11 options:

 

A) 

21.19%

 

B) 

17.19%

 

C) 

29.19%

 

D) 

19.16%

 

E) 

16.19%

 

Question 12 (1 point)

 

 

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What rate of interest did you receive over a period of 90 days if your principal was $5000 and it has a maturity value of $6000?

Question 12 options:

 

A) 

811.11%

 

B) 

0.811%

 

C) 

0.0811%

 

D) 

8.11%

 

E) 

81.11%

 

Question 13 (1 point)

 

 

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What rate of interest did you receive over a period of 67 days if your principal was $7444 and it has a maturity value of $7601?

Question 13 options:

 

A) 

11.94%

 

B) 

11.69%

 

C) 

11.29%

 

D) 

11.49%

 

E) 

11.99%

 

Question 14 (1 point)

 

 

 

 

 

 

 

 

 

Calculate the amount of interest if $3000.00 is invested at 6.25% from November 30, 2014 to May 15, 2015.

Question 14 options:

 

A) 

$85.27

 

B) 

$843.75

 

C) 

$70.75

 

D) 

$70.31

 

E) 

$86.82

 

Question 15 (1 point)

 

 

 

 

 

 

 

 

 

Interest of $429.48 was charged on a loan of $9500 over a period of 7 months. What simple rate of interest was charged on the loan?

Question 15 options:

 

A) 

2.64%

 

B) 

7.75%

 

C) 

3.48%

 

D) 

4.52%

 

E) 

4.38%

 

Question 16 (1 point)

 

 

 

 

 

 

 

 

 

What amount of interest will be charged on $20 000 in 1 month for a simple interest of 5.99%?

Question 16 options:

 

A) 

$119.80

 

B) 

$1198

 

C) 

$99.83

 

D) 

$9.98

 

E) 

$0

 

Question 17 (1 point)

 

 

 

 

 

 

 

 

 

Formula to calculate the future value is :  S =P(1+rt)

Question 17 options:

  True
  False

 

Question 18 (1 point)

 

 

 

 

 

 

 

 

 

Formula to calculate the simple interest is  : I = Prt

Question 18 options:

  True
  False

 

Question 19 (1 point)

 

 

 

 

 

 

 

 

 

The rate of interest is the amount of interest expressed as a percentage of the principal charged per period.

Question 19 options:

  True
  False

 

Question 20 (1 point)

 

 

 

 

 

 

 

 

 

The formula for calculating the present value is : P = S/ (1+rt)

Question 20 options:

  True
  False

 

 

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