Financial Algebra. CH #3 Banking Services

Question 1

Interest compounded semi-annually gets compounded how many times a year (n)?

Accepted Answer

2

Question 2

Your minimally insured car gets hit on the st, the driver leaves the scene, who is responsible?

Accepted Answer

You are

Question 3

What is the difference between debit and credit?

Accepted Answer

you borrow credit, debt is your money

Question 4

Solve: Sergie buys a goat from Pete for $625 and will repay Pete after 10 months at 8.3% int.

Accepted Answer

$668.23

Question 5

This benefit is given to an employee as a retirement package for staying with the same company

Accepted Answer

Pension

Question 6

What is a good rate of return on the stock market?

Accepted Answer

5%

Question 7

A $25,000 car depricates @9% per year. How much is the car worth after 15 years?

Accepted Answer

$6075

Question 8

Formula? Jill put 10K into an acc comp. daily at 2.15% int. How much will she have after 2 yrs?

Accepted Answer

Compounded Interest

Question 9

Formula: Jimmy has $32 compounded continuously for 9 years, how much money does he have then?

Accepted Answer

Continuously compounded

Question 10

What is the most important tool in negotiations?

Accepted Answer

Leverage

Question 11

9.8456% as a decimal is written as

Accepted Answer

0.098456

Question 12

What is Oregon's minimum insurance?

Accepted Answer

25K liability/50K total liability/ 20K property

Question 13

Which Formula? Kay wants $90K in 5 yrs. How much should she deposit ea. week @ 4% comp. int.?

Accepted Answer

Present Value

Question 14

Solve: Jan invests $200 every month for 12 yrs w/ 3.6% comp int what is her balance?

Accepted Answer

$35,955.95

Question 15

Ea acc. pays the same amount of interest, which period of time would compound the most interest

Accepted Answer

continuously

Question 16

This document is the most important paperwork to get an interview?

Accepted Answer

Resume

Question 17

F 16K ↑ 2.56. Whats going on with Ford?

Accepted Answer

Sold 16 thousand shares up $2.56

Question 18

Using Simple interest find the rate if Principal= $960, Interest= $42 and time is 9 months.

Accepted Answer

5.83333333%

Question 19

Solve Kay wants $90K in 5 yrs. How much should she deposit each week @ 4% comp. int.?

Accepted Answer

$312.82

Question 20

Which Formula. Jan invests $200 every month for 12 yrs w/ 3.6% comp int what is her balance?

Accepted Answer

Future Value

Question 21

Why is it important to balance your own check book?

Accepted Answer

All of the above

Question 22

What is a routing number?

Accepted Answer

A mailing address for each individual bank

Question 23

What are disadvantages of checks?

Accepted Answer

All of the above

Question 24

Tammy got $2500 for grad, placed it comp. monthly acc. for 50 years at 3.25% how much she got

Accepted Answer

5 times as much

Question 25

Formula? Sergie buys a goat from Pete for $625 and will repay Pete after 10 months at 8.3% int.

Accepted Answer

Simple interest

Question 26

Why do stock prices go up?

Accepted Answer

low supply high demand

Question 27

The FDIC insures all Bank accounts in the US for how much?

Accepted Answer

$250,000

Question 28

Solve: Jill put 10K into an acc comp. daily at 2.15% int. How much will she have after 2 yrs?

Accepted Answer

$10,439.37

Question 29

Solve: Jimmy has $32 compounded continuously at 1.35% for 9 yrs, how much $ does he have then?

Accepted Answer

$36.13

Question 30

Tim make $11.50 an hour if he works 47 hours a week, what does a biweekly paycheck look like?

Accepted Answer

$1161.50

Financial Algebra. CH #3 Banking Services

Questions 30

Financial Algebra. CH #3 Banking Services

Questions 30