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Key Quiz 8.1
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1
What is the value of $750 invested for 6 years at 5% per year with simple interest?
A)$225.00
B)$975.00
C)$1005.07
D)$23 250.00
2
Find the value of $625 invested for 3 years at 2.75% compounded annually.
A)$32 959.00
B)$12 998.00
C)$678.00
D)$676.56
3
Supply the missing word: “Money invested with compound interest is ___________ growth.”
A)constant
B)linear
C)quadratic
D)exponential
4
Supply the missing word: “Money invested with simple interest is ___________ growth.”
A)compound
B)linear
C)quadratic
D)exponential
5
How much more would $1000 be worth after 5 years if it were invested at 3% per year compounded annually rather than 3% per year simple interest?
A)$9.27
B)$1150.00
C)$1159.27
D)$1 008 000.00





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