Simple vs Compound Interest
Finding the Principal
Writing Checks
Balancing Statements
Error Analysis
100
What is the difference of the compound interest and the simple interest on $ 14,000 at the interest rate of 10% per annum for 2 years?
What is $ 140?
100
What principal will amount to $1750 if invested at 3% interest compounded quarterly for 5 years?
What is $1507.08?
100
What is the Check number for this check?
What is 622?
100
Jhoney has a bill from Center point energy. What column will this transaction go in.
What is Debit?
100
State the error
What is the ending balance of a Simple interest account where $3,500 was invested at 4.5% interest over 5 years?
I = 3,500*.045*5= $787.50
Ending balance is $787.50
What is add Principal to Interest?
200
Find the difference between compound interest and simple interest on $ 12,000 and in 1 1/2 years at 10% compounded yearly.
What is $ 44.28?
200
What principal will amount to $3500 if invested at 4% interest compounded quarterly for 5 years?
What is $2868.41?
200
Who received money for this check?
Who is Verizon?
200
It is Seleste's birthday. She receives a check from her grandmother for $1,000. State the column it goes in.
What is credit?
200
State the Error
What is money written as words?
300
Find the difference between the Future values of a simple interest and compound interest on $ 40000 for 3 years at 8% per year.
What is $788.48?
300
What principal will amount to $3000 if invested at 3% interest compounded semiannually for 10 years?
What is $2227.41?
300
What is the account number on this check?
What is 74600000000?
300
Jesse is taking a lady out on a date. He is pressed for time so he has to use a gas station ATM to take out $100. The ATM charges $3.75 to take out cash. His bank charges and additional $4.50 because he is not using an branch ATM. State his fees.
What is $8.25?
300
David is an administrative assistant. He earns a weekly salary of $412.00. He applied and was
hired for an administrative specialist position. David’s annual salary in his new position will be $24,388.00.
How much will David’s weekly salary be in his new position?
412*52=$21,424 New salary
What is use previous salary instead of new salary?
What is $469
400
A man invested $ 8,000 for 3 years at a simple interest rate of 8% per year. Had the invested the same sum for the same period at a compound interest rate of 71/2 % per year, how much more would he have received after 3 years?
What is $ 18.38?
400
What principal will amount to $2500 if invested at 5% interest compounded semiannually for 7.5 years?
What is $1726.16?
400
What goes in the blank under the word Verizon?
What is One hundred ninety six and 22/100?
400
Shelzy has a flat tire. She is pressed for time so she has to use a gas station ATM to take out $200. The ATM charges $3.75 to take out cash. Her bank charges and additional $4.50 because she is not using an branch ATM. . If her balance was $400 state her new balance.
What is $191.75?
400
State the error
If you deposit $4000 into an account paying 6% annual interest compounded quarterly, how much money will be in the account after 5 years?
4000(1+.6/4)^5*4=$48,357,032.78
What is change percent to a decimal?
What is $5387.42?
500
Andre has 10,000 to invest in his bank account. He has decided he will invest half in a simple interest account and half in a compound interest account. The simple interest account has a 4% interest rate and the compound interest account has a 2.75% interest rate compounded semi-annually. How much total interest did Andre accumulate after 5 years?
What is $1,731.64?
500
Rodney has $6,450 in his account. The account has a 4 ¾% interest rate compounded weekly for 4 years. How much did Rodney originally invest in the account?
What is $5,334.35?
500
Would this transaction be a debit or a credit?
What is a debit?
500
Mikyra opens a checking account with a new bank. This bank charges $35 every time your account is in the negative. Mikyra currently has $300 dollars in her account. State ending balance after these transactions.
1. Debit McDonalds $8.96
2. Debit school books $145.52
3. Credit Pay check $150.50
4. Debit Gucci purse $345.25
What is $-84.23?
500
State the error
Casandra is a high school algebra teacher. Her annual salary is $38,625.00. If she receives a paycheck
every month of the year, what is her monthly salary?
$38,625 / 24 =$1,609.38 per month
What is divide by 24?
What is $3218.75?