AnswersKapuschinskyWCA 3424 Consumer Applications 1st nine weeks 26-27Using a Debit Card

Simple Interest Answers

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If you invest $3,900 at a 7.83% simple annual interest rate, approximately how long will it take for you to have a total of $10,000?

A
12 years
B
15 years
C
20 years
D
30 years
62
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Consider the following incomplete deposit ticket: Which of the following are possible amounts for the third check and the cash that Cindy deposited?

Question illustration
A
no cash and a $303.68 check
B
$140.50 in cash and a $267.14 check
C
$99.32 in cash and a $155.55 check
D
$122.04 in cash and a $205.64 check
63

Read the excerpts from chapter one of The Strange Case of Dr. Jekyll and Mr. Hyde.Excerpt 1:"I see you feel as I do,” said Mr. Enfield. "Yes, it’s a bad story. For my man was a fellow that nobody could have to do with, a really damnable man; and the person that drew the cheque is the very pink of the proprieties, celebrated too, and (what makes it worse) one of your fellows who do what they call good. Black mail I suppose; an honest man paying through the nose for some of the capers of his youth. Black Mail House is what I call the place with the door, in consequence.Excerpt 2:And the lawyer set out homeward with a very heavy heart. "Poor Harry Jekyll,” he thought, "my mind misgives me he is in deep waters! He was wild when he was young; a long while ago to be sure; but in the law of God, there is no statute of limitations. Ay, it must be that; the ghost of some old sin, the cancer of some concealed disgrace: punishment coming, PEDE CLAUDO, years after memory has forgotten and self-love condoned the fault.”

A
Both men are trying blackmail Dr. Jekyll.
B
Both express sympathy for Jekyll’s predicament.
C
Both dislike Jekyll for actions from his youth.
D
Both experience remorse for their own bad behavior.
64

Mr. Hyde’s unethical experiments are an example of which type of conflict?

A
character vs. society
B
character vs. character
C
character vs. nature
D
character vs. self
65

Rachel just purchased a homeowners insurance policy for her new home that costs $0.43 per $100. Her home is worth $387,500. What is Rachel’s annual homeowners insurance premium?

A
$1,666.25
B
$2,208.75
C
$8,802.33
D
$9,011.63
66

Maggie has $14,100 to invest, and wishes to gain $4,000 in interest over the next eight years. Approximately what is the minimum simple interest rate Maggie needs to reach her goal?

A
2.89%
B
3.55%
C
4.95%
D
5.18%
67

If you wish to calculate the interest on an investment with a rate of 3.58%, what number will you plug into your equation?

A
3.58
B
0.358
C
0.0358
D
0.00358
68

Consider the following incomplete deposit ticket. What was the subtotal of Rachel’s deposit?

Question illustration
A
$1,145.39
B
$746.23
C
$399.16
D
$1,075.95
69

Trevor has an investment worth $6,774.50. He made his only deposit in it 22 years ago. Given that the investment yields 2.7% simple interest annually, how big was the initial deposit?

A
$2,524.50
B
$4,024.03
C
$4,250.00
D
$11,404.88
70

Which statement(s) describe the steps for studying character development? Check all that apply.Consider the character’s actions at the beginning of the story.Recall other characters from various literary sources.Analyze how the character reacts to plot events throughout the story.Study the character’s behaviors at the end of the story.Imagine what might happen to the character after the story concludes.

A
Consider the character’s actions at the beginning of the story.
B
Recall other characters from various literary sources.
C
Analyze how the character reacts to plot events throughout the story.
D
Study the character’s behaviors at the end of the story.
E
Imagine what might happen to the character after the story concludes.
71

Read the excerpt from The Strange Case of Dr. Jekyll and Mr. Hyde.Even as good shone upon the countenance of the one, evil was written broadly and plainly on the face of the other.

A
Evil can never truly hide itself.
B
Secrets isolate people.
C
Some actions can never be forgiven.
D
Good always prevails over evil.
72

Rudy has been paying an annual homeowners insurance premium of $1,106.30 ($0.37 per $100 of value) since he first purchased his house. For the past six months, Rudy has completed some major improvements to his house to improve its overall value. If Rudy successfully adds $50,000 to the value of his house, what will his new annual homeowners insurance premium be?

A
$185.00
B
$315.00
C
$1,291.30
D
$1,351.14
73

When calculating simple interest, what must you do if you want to invest for months or weeks instead of years?

A
Simple interest only pays yearly, so you should find another investment.
B
The simple interest calculation does not use those units, so you should just calculate as normal.
C
The units have changed, so the interest formula switches to I·t=P·r.
D
Interest rates are annual, so you must convert the units into years.
74

What does it mean for a savings account to have a minimum balance?

A
If you do not keep at least that much money in the account, you will be assessed fees.
B
If the amount of money you have in the account drops below the minimum, the interest rate will increase to replenish your savings to the minimum.
C
You must have the minimum amount of money in a separate account before you are allowed to open a savings account.
D
You must deposit that much money into the account every month or your account will be closed.
75

Which of the following would be a good reason to place your money into a savings account?

A
You can purchase stocks with a savings account
B
A savings account earns interest
C
You can write checks with a savings account
D
You can use a debit card to make transactions

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Simple Interest Answers — KapuschinskyWCA 3424…