Investing — Unit test

Question 1

Raul needs to buy a computer for work. The first step in researching the product is to

Revolt · Accepted Answer

examine key features, such as how long it will last.

Question 2

Sally’s parents deposited $15,000 into a college savings account on her third birthday. The account had an interest rate of 9.6% compounded annually. They were hoping that the money would double twice by the time she was 18 years old. Using the rule of 72, will their hopes come true?

Revolt · Accepted Answer

Yes, the $15,000 will double each 7.5 years. In 15 years, it will double twice.

Question 3

Jaina and Tomas compare their compound interest accounts to see how much they will have in the accounts after three years. They substitute their values shown below into the compound interest formula.Compound Interest AccountsNamePrincipalInterest RateNumber of YearsCompoundedJaina$3007%3Once a yearTomas$4004%3Once a yearWhich pair of equations would correctly calculate their compound interests?

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Jaina: , Tomas:

Question 4

principal borrowedoutstanding balanceprojected balance

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principal borrowed

Question 5

good credita bank accounttax returns

Revolt · Accepted Answer

good credit

Investing — Unit test Answers

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