Econ flash cards

A new car, valued at $28,000, depreciates at 9% per year. What is the value of the car one year after purchase

$25,480

Sara puts $4,000 into an investment yielding 5% annual simple interest; she left the money in for five years. How much interest does Sara get at the end of those five years

$1,000

$12,000 at 2.2% for 5 years

$1,320

$600 at 4% for 9 months

$18

$1,200 at 5.5% for 4 years

$264

$1,300 at 5% for 6 years

$390

$15,600 at 3% for 2 years

$936

A bank is offering 3.5% simple interest on a saving account. If you deposit $7,500, how much interest will you earn in two years

$525

$1,600 at 4.5% for 9 months

$54

$24,000 at 5.5% for 5 years

$6,600

$450 at 7% for 2 years

$63

$5,400 at 3.5% for 6 months

$94.5

Doug invested $2,500 into a certificate of deposit earning 6.5% interest. How long will it take to double Doug's investment

11 years

Jim invested $4,000 in a bond at a yearly rate of 4.5%. He earned $540 in interest. How long was the money invested

3

$400 interest is earned on a principal of $2,000 at a simple interest rate of 5% interest per year. For how many years was the principal invested

4

Jessica has a balance of $2,200 on her credit card with an 18% interest rate. Her credit card company doesn't require a minimum payment on the balance and does not assess any late charges. If Jessica chooses not to make any payments on her outstanding balance, how long will it take for her balance to double

4 years

In how many years will $1,200 yield an interest of $180 at 3% simple interest

5

The average stock market return since 1926 has been 11%. According to the rule of 72, how often will an individual's investment double in that time

6.5 years

$5,200 at 4% for 3 years.

624