Question:

Answer: D

Question: Adam invested $12,000 in a six-year CD that paid 7.1% interest, but later needed to withdraw $2,500 early. If the CD’s penalty for early withdrawal was eighteen months’ worth of interest on the amount withdrawn, how much of a penalty did Adam pay?

1. $138.89

b. $177.50

c. $266.25

d. $319.50

Answer: C

Question:

Answer: B

Question:

Answer: A

Question:

Answer: B

Question: Haley invests $16,820 in a nine-year CD bearing 5.8% interest, and $21,950 in an online savings account giving 3.0% interest. When the CD reaches maturity, how much more interest will it have generated than the savings account?

1. $5,129.72

b. $3,650.32

c. $2,853.54

d. $2,276.46

Answer: C

Question:

Answer: B

Question: T(?)

Answer: True or False: A traditional, physical bank with online options is a type of online bank.

Question:

Answer: C

Question:

Answer: D