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Money Management Exercises and Calculations

This document contains a series of math exercises involving percentages, interest, currency conversion, and savings accounts. It begins with word problems asking students to find interest rates from different savings accounts and to report them to their group. It then provides a table for students to calculate compound interest on savings accounts over 12 years with starting balances of $350 and $100 and annual interest rates of 5% and 6% respectively. It concludes by asking students to calculate the ending balance of savings accounts with various starting amounts, annual interest rates, and additional annual deposits over 12 to 22 years.

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Chris Mi
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4 views4 pages

Money Management Exercises and Calculations

This document contains a series of math exercises involving percentages, interest, currency conversion, and savings accounts. It begins with word problems asking students to find interest rates from different savings accounts and to report them to their group. It then provides a table for students to calculate compound interest on savings accounts over 12 years with starting balances of $350 and $100 and annual interest rates of 5% and 6% respectively. It concludes by asking students to calculate the ending balance of savings accounts with various starting amounts, annual interest rates, and additional annual deposits over 12 to 22 years.

Uploaded by

Chris Mi
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

58

Section 2.1 Exercises Part C


1. Find three different places to save your money. Report the interest rates to your group, and
receive their reports.
Find.
2.

45=

3.

872=

4.

(2.7)5=

5.

(5.38)2

6.

(1.06)25

7.

(1.11)13

Fill out the table.


Mixed
8.
5 52
9.

Improper

373

10. If I place 1 cent on the first square of a chess board, 2 cents on the second square, and keep
doubling the amount on each square, how much money will be on the 20th square?
11. A product sells for $2.50 per square foot. How much is that per square yard?
12. Change 400 Pesos into Pounds. (1 Mexican Peso = $0.08, 1 British Pound = $1.50)
13. Change 50 miles per hour into feet per second. (5280 feet = 1 mile)
Change into a percent.
14. !"
!"

15.

!"
!"#

16.

!
!",!!!

Using the percentages, find out how much money was spent if the total budget was $287.
17. Fun 17.3%
Find the following:
20. Price: $80.40
Tax rate: 7%
Tax:
Final Price:

18.

Insurance 6%

21.

Attendees: 388
Percent kids: 35%
Kids:

19. Food 84%

Assignment 2.1c

59
22. For a savings account that begins with $350 and has a 5% interest rate, fill out the following
table and place the entries in the Life Plan spreadsheet on Sheet 2. Note: You may use your
calculator and type the numbers into your spreadsheet, or you may use the spreadsheet functions
to make these calculations.
Time
1st year
2nd year
3
4
5
6
7
8
9
10
11
12

Beginning Balance
350
367.50

Ending Balance
350 1.05 = 367.50

23. If a savings account started at $300 and earned 7% per year, how much would be in the
account at the end of 22 years?
24. For a savings account that begins with $100 and has a 6% interest rate and to which you are
able to add $25 per year, fill out the following table and place it on Sheet 2 of your Life Plan
spreadsheet:
Time
Beginning Balance
Ending Balance
1st year
100
100 1.06 + 25 = 131
nd
2 year
131
131 1.06 + 25 = 163.86
3
163.86
163.86 1.06 + 25 =
4
5
6
7
8
9
10
11
12

25. If a savings account started at $200 and earned 7% per year, how much would be in the
account at the end of 12 years if you are able to add $40 per year?
Assignment 2.1c

60

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

Complete when all reports are


done.
1024
7569
143.489
28.944
4.29
3.88
!"
!

12 !
$5,242.88

11.
12.

$22.50 per square yard

13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.

73.3 feet per second

21.33 pounds

66.7%
54.4%
.02%
$49.65
$17.22
$241.08
$5.63; $86.03
(135.8) 136 kids
$628.55
$1329.12
$622.97
$1,165.98

Assignment 2.1c

61

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