AnswersOK-Algebra II B-CRInvesting

Investing Answers

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1
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Which formula would be used for this situation?

A
A = (8,000 + 0.045)12
B
A = 8,000(1 + 0.045)12
C
A = 8,000(1 + 0.12)4.5
D
A = 8,000 · 0.045 · 12
2
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How much money does Charlie have after the 15 years? $26$325$390$715

A
$26
B
$325
C
$390
D
$715
3

Between 10 years and 20 years, how much more interest would you expect the account to earn? less than $1,000$1,000$2,000✔ More than $2,000

A
less than $1,000
B
$1,000
C
$2,000
D
✔ More than $2,000
4

will have the most money to spend.

Answer:

Tim

5

Is Joni correct? Explain.

A
Joni is not correct, because $230 is just the interest she will earn; she will have $430 total.
B
Joni is not correct; $230 will be her balance after 1 year. After 3 years, she will have $290.
C
Joni is not correct because she used the simple interest rate formula, not the compound interest rate formula. She will have $231.53.
D
Joni is correct. She correctly applied the I = P · r · t formula, and will have $230.
6

Which statements about doubling an investment are true? Check all that apply.

A
An investment of $5,000 will double in 6 years at an annual compound interest rate of 12%.
B
An investment of $1,000 will double at an annual compound interest rate of 18% in 6 years.
C
An investment of $350 will double in 9 years at a compound interest rate of 8%.
D
An investment of $2,000 will double at a simple interest rate of 5% in 20 years.
E
An investment of $700 will double in 12 years at a simple interest rate of 6%.
7

An interest rate of % is required.

Answer:

12

8

About how much money did Arturo’s parents invest after 10 years? $1,000$2,000✔ $6,000 $8,000

Answers:
Selection 1:$6,000
Selection 2:$2,000
Selection 3:More than $2,000
9

How much interest will Charlie’s initial investment earn over the 15-year period?$26$325✔ $390$715

Answers:
Selection 1:$390
Selection 2:$715
10

Simple interest: I = P · r · t

A
11 years
B
12 years
C
13 years
D
14 years
11

Question text not available

Answers:
Selection 1:$390
Selection 2:$715
12

Which formula would be used for this situation?

A
A = (8,000 + 0.045)12
B
A = 8,000(1 + 0.045)12
C
A = 8,000(1 + 0.12)4.5
D
A = 8,000 · 0.045 · 12
13

will have the most money to spend.

Answer:

Tim

14

Is Joni correct? Explain.

A
Joni is not correct, because $230 is just the interest she will earn; she will have $430 total.
B
Joni is not correct; $230 will be her balance after 1 year. After 3 years, she will have $290.
C
Joni is not correct because she used the simple interest rate formula, not the compound interest rate formula. She will have $231.53.
D
Joni is correct. She correctly applied the I = P · r · t formula, and will have $230.
15

Which statements about doubling an investment are true? Check all that apply.

A
An investment of $5,000 will double in 6 years at an annual compound interest rate of 12%.
B
An investment of $1,000 will double at an annual compound interest rate of 18% in 6 years.
C
An investment of $350 will double in 9 years at a compound interest rate of 8%.
D
An investment of $2,000 will double at a simple interest rate of 5% in 20 years.
E
An investment of $700 will double in 12 years at a simple interest rate of 6%.
16

An interest rate of % is required.

Answer:

12

17

About how much interest was earned after 10 years? $1,000✔ $2,000$6,000 $8,000

A
$1,000
B
✔ $2,000
C
$6,000
D
$8,000
18

How much money does Charlie have after the 15 years? $26$325$390✔ $715

A
$26
B
$325
C
$390
D
✔ $715

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