Unit Test — Unit test Answers

Sharla invests $275 in a simple interest bearing account for 16 years. The annual interest rate is 8%. Using the simple interest formula, , how much interest will Sharla’s initial investment earn over the 16 year period?

A warning sign that a credit counseling agency may not be legitimate is when they promise to _____.a.work with creditors to come up with a reasonable payment plan for paying off debtb.help lower the monthly payments you must make to your creditorsc.pay off your debts by lowering the interest rate that you pay on themd.settle your debts without it hurting your credit rating

Quincy wanted his credit report. Which list could Quincy have obtained?

To save for a car when he turns 18, Pascale deposited $500 each year into a savings account with a 7.5% interest rate compounded annually.YearBeginning BalanceInterest EarnedEnding Balance1$500.00$37.50$537.502$1,037.50$77.81$1,115.313$1,615.31$121.15$1,736.464$2,236.46$167.73$2,404.195 Using the formula , what is the value of the account at the end of the fifth year?

Fido wants to buy a new car. He will need to get a car loan. Fido decides to wait for a few months until his credit history improves. Which explains whether Fido is making a sensible decision?