1. Questions

MATH

1. An employee put $5,000.00 in a retirement account that offers 9% interest compounded annually. The employee makes no additional deposits or withdrawals. Which amount is closest to the interest the employee will have earned at the end of 5 years?

a $7693
b $2693**
c $123,804
d $118,804
e $229

2.An investor puts $2,500 into a life insurance policy that pays 8.5% simple annual interest. If no additional investment is made into the policy, how much accumulated interest should the investor expect at the end of 10 years?
1 point

a $375
b $2125**
c $21,250
d $212,500

3.Jerry has a new job and earns a salary of $45,000. Victoria has a new job and earns a salary of $54,000. Jerry will receive a salary increase of $2,500 per year, and Victoria will receive a salary increase of $1,500 per year. Who earns more after 5 years?
1 point

a Jerry makes $4,000 less**
b Victoria earns $5,000 less
c Victoria makes $5000 more
d Jerry makes $4000 more

4.Describe the Scatter plot....The amount of time you leave an investment in an account, and the interest earned.

a Positive correlation**
b Negative correlation
c No correlation
d Not enough information**
(not sure)

5.If you receive $1000 for your birthday and decide to invest it in an account earning 8% compound interest, how much will you have in 5 years when you graduate high school? *
1 point

$400
$1400
$1469.32**
$18,895.68
$1327.68

Matthew will deposit $500 into an account earning 6.25% simple interest. Bodie will deposit $450 into an account earning 6.5% Compound interest. WHO has more money after 3 years? *
1 point

Matthew has $50 more
Bodie has $43 more
Matthew has $93 more
Bodie has $450 more**

If you deposit $5000 into an account for 4 years, How much MORE interest would you earn by compounding vs simple interest of 5.5%? *
1 point

$100
$1100**
$1194
$94
(not sure)

If Shelly deposits $200 into an account for 12 years and NOW has $375...What % of SIMPLE interest was she earning? *
1 point

6.9%
7.3%
1.5%
15.6%
(need help)

How long would you need to leave money into an account if you earned 11% simple interest and you started with $300 but wanted $500 *
1 point

about 10 years
about 6 years
about 22 years
about 15 years
about 7 years
(need help)

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