Savings Account Question Preview (ID: 62785)


Savings And Interest. TEACHERS: click here for quick copy question ID numbers.

Define Deposit
a) Amount of money that you put into your moms bank
b) Amount of money that you put into your bank account
c) Amount of money you give to your friend
d)

What do you fill out to make a deposit
a) checking account slip
b) withdraw slip
c) deposit slip
d)

What would you want to open a savings account and not just a checking account
a) The bank doubles your money
b) The bank will pay a modest interest for keeping money in a checking account
c) The bank will pay a modest interest for keeping money in a savings account
d)

To take money out of the bank you will need to fill out a
a) deposit slip
b) withdraw slip
c) checking account slip
d)

What is the formula for simple interst
a) interest = rate x time
b) interest = principal x time
c) interest = principal x rate x time
d)

How do you figure out what number to use for the time in the simple interest formula
a) Write the time you are given as a fraction
b) Write the time you are given as a decimal
c) Write the time you are given as a negative
d)

What will you need to change the rates to before you can calculate them
a) percentages
b) decimals
c) fractions
d)

How are rates given to you
a) percentages
b) decimals
c) fractions
d)

What is principal
a) The amount you have at the end
b) The amount you have after gaining interest
c) The amount you start with before interest
d)

What would the decimal be for 1/2
a) 0.15
b) 0.25
c) 0.50
d)

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