2. SimpleSimple 50 40 30 20 10CompoundCompound AnnuitiesAnnuitiesLoansLoans MiscMisc Math 107 - Finance 50 40 30 20 10 50 40 30 20 10 50 40 30 20 10 50 40 30 20 10

3. Simple

4. CheckWork $90 Go Home Go Home 10 Point Question How much interest do you owe after 6 years on loan for $300 that charges 5% simple interest?

5. CheckWork Go Home Go Home If you loan your brother $60 and charge him 9% simple interest, how much does he owe you after 40 days? 20 Point Question $60.59

6. Your friend loans you $30 with the condition that you pay her $40 in 15 months. What simple interest rate did she make on her “investment?” CheckWork 26.667% Go Home Go Home 30 Point Question

7. CheckWork 1.5625 years Go Home Go Home 40 Point Question You loan your sister $800 and charge 8% simple annual interest. How long will it take for her to owe you $900?

8. CheckWork $483.87 Go Home Go Home How much must you invest today in an account that earns 12% simple interest so you have $600 in 2 years? 50 Point Question

9. Compound Interest

10. CheckWork $594.38 Go Home Go Home If you put $400 in an account earning 8% interest, compounded quarterly, how much money will be in the account after 5 years? 10 Point Question

11. CheckWork $157.77 Go Home Go Home 20 Point Question How much interest will you earn on $800 invested at 6% interest compounded continuously for 3 years?

12. CheckWork $7,371.03 Go Home Go Home 30 Point Question How big of a deposit do you need to make in an account that earns 4% annual interest, compounded monthly if you want to have $9000 in 5 years?

13. CheckWork Go Home Go Home U First Bank’s savings account earns 5.4% interest, compounded monthly. What is the effective rate? 40 Point Question 5.536%

14. CheckWork Go Home Go Home A collector buys an antique car for $4,000. If she sells it for $5,000 after 6 years, what interest rate did she make on her investment? Assume interest is compounded annually. 50 Point Question 3.789%

15. Annuities

16. CheckWork $27,971.23 Go Home Go Home Suppose you put $200 a month in an account that earns 9% interest compounded monthly. How much will you have saved after 8 years? 10 Point Question

17. CheckWork Go Home Go Home Let’s put $50 every month into a savings account that earns 3% interest, compounded monthly. How much will we save in 3 years? 20 Point Question $1881.03

18. CheckWork $28,092.67 Go Home Go Home How much interest do you make in 20 years if you deposit $100 every month in an account that earns 7% interest, compounded monthly? 30 Point Question

19. CheckWork $3892.12 Go Home Go Home A company anticipates needing $90,000 in 5 years to upgrade their computers. How much should they deposit every third month in an account that earns 6% interest, compounded quarterly? 40 Point Question

20. CheckWork $858.38/2 = $429.19 Go Home Go Home Willie Mayquette wants to have $3,000,000 when he retires in 30 years. How big should his monthly payments be if he makes monthly deposits into a retirement account that earns 12% interest, compounded monthly if his employer matches his contribution? 50 Point Question

21. Loans

22. CheckWork $229.77 Go Home Go Home 10 Point Question If you borrow $12,000 at 5.6% interest for 60 months, how big are your monthly payments?

23. CheckWork Go Home Go Home How big are the monthly payments if you borrow $8,000 at 7% interest and pay it back over 4 years? 20 Point Question $191.57

24. How much interest do you end up paying if you borrow $4,000 at 9% interest and pay it back with monthly payments in 3 years? CheckWork $579.20 Go Home Go Home 30 Point Question

25. Go Home Go Home 40 Point Question CheckWork A widow received $400,000 from her husband’s life insurance policy. If she invests the money at 6% interest compounded annually, how much can she take out every year if she wants it to last 30 years? $29,059.56

26. CheckWork Go Home Go Home 50 Point Question A husband and wife figure they can afford house payments of $1100.00 per month. How big of a loan can they afford if they plan on borrowing the money for 30 years at 6.75% interest? $169,596.55

27. Miscellaneous

28. CheckWork George W. Bush Go Home Go Home Who is currently the President of the United States? 10 Point Question

29. What is the name of the tall white pointy building at the Seattle Center with a round rotating disk at the top? The Space Needle CheckWork Go Home Go Home 20 Point Question

30. CheckWork Go Home Go Home 30 Point Question What two points does the Seattle Monorail currently connect? Westlake Mall the Seattle Center

31. Science, Math and Technology What does the abbreviation SMT stand for? CheckWork Go Home Go Home 40 Point Question

32. CheckWork Go Home Go Home 50 Point Question Jason Alexander Who was Brittney Spears first husband? They were briefly married in Las Vegas?