This is the formula used for calculating simple interest.
What is I = Prt
100
This is the formula for compound interest.
What is A = P (1 + i) ^ n
100
$1 Canadian is worth this much in US dollars, according to Google today.
What is $0.78.
100
A bank account charges $5.75 per month and includes 15 online transactions free. Extra transactions cost $0.50 each. Email money transfers cost $3.50 each.
This is how much is will cost in a month for 22 transactions and 4 email money transfers.
What is $23.25.
100
This is what you should do with your credit card bill each month to avoid paying any interest.
What is pay off your full balance.
200
In the simple interest formula, i is the interest rate, the t is the time of the investment, and the P stands for this.
What is principal.
200
If a bank account pays 6% annual interest, compounded semi-monthly, this is the value of i.
What is 0.0025
200
A toy that sells for $15.00 CDN will sell for this much in US dollars.
($1 CDN = $0.78 USD)
What is $11.70.
200
A bank account charges $15.75 per month and includes unlimited online transactions. Email money transfers cost $4.50 each.
This is how much is will cost in a month for 34 transactions and 6 email money transfers.
What is $42.75.
200
When the time to payback a loan is extended from 3 years to 4 years, this is what happens to the monthly payment.
(hint: increase or decrease)
What is decrease.
300
An investment of $500 that earns 2% simple interest for 4 years will have this much interest earned.
What is $40.
300
You have invested $5000 in a GIC paying 6.5% interest, compounded weekly, for 35 years. This is the value of n that you should use when calculating the interest you will earn.
What is 1820.
300
An ugly Christmas sweater costs $45.95 on an American website. This is how much it will cost in Canadian dollars.
What is $58.91.
300
A TD bank account charges $5.75 per month and includes 15 ATM transactions free. Extra transactions cost $0.50 each. Withdrawals at non-TD ATMs cost $1.50 each.
This is how much is will cost in a month for 10 TD ATM transactions, 24 debit purchases and 4 cash withdrawals from non-TD ATMs.
What is $23.25.
300
When the time to payback a loan is extended from 3 years to 4 years, this is what happens to the total cost of the loan.
(hint: increase or decrease)
What is increase.
400
An investment of $1500, earning 8% simple interest for 20 years, will be worth this much at the end of the 20 years.
What is $3900.
($2400 interest earned)
400
An investment of $400, that earns 3% annual interest, compounded monthly, will be worth this much after 10 years.
What is $539.74
400
An American tourist buys a Canada t-shirt for $21.50, a bottle of Maple syrup for $12.00, and a Tragically Hip CD for $15.95. This is how much he has spent in USD.
($1 CND = $0.78 USD)
What is $38.57.
400
A CIBC bank account charges $22.50 per month and includes unlimited transactions and debit purchases. Withdrawals at non-CIBC ATMs cost $2.50 each.
This is how much it will cost in a month for 14 CIBC ATM transactions, 32 debit purchases and 3 cash withdrawals from non-CIBC ATMs.
What is $30.
400
In order to pay the lowest amount of interest on a loan, this frequency of payments should be chosen.
(monthly, semi-monthly, bi-weekly, weekly)
What is weekly.
500
This is how long you need to invest $500 at 4% simple interest to get $800.
What is 15 years.
500
An investment of $2500 that earns 8.5% annual interest, compounded weekly, will earn this much interest in 2 years.
What is $462.85.
500
An RBC bank account charges $11.25 per month and includes 30 ATM transactions free. Extra transactions cost $0.75 each. Withdrawals at non-RBC ATMs cost $2.00 each.
This is how much is will cost in a month for 14 RBC ATM transactions, 21 debit purchases and 2 cash withdrawals from non-RBC ATMs.
What is $20.50.
500
A 5-year loan has monthly payments of $235.24. What is the total cost of the loan?