Unit Test #95

Select your answers to the following 5 questions from the pop-up menus in the right hand column. Clicking the "Begin Test Again" button will clear all the answers.




The following are the first two terms of a geometric sequence

2, 10

The next term is:

A. 18

B. 28

C. 12

D. 50

Answer 1:


8 and 12 are the first term and the sum of the first two terms in a geometric series. The sum of the first three terms is:

A. 16

B. 14

C. 18

D. 20

Answer 2:



An investement of $1000 is in an account with an annual interest rate of 8% which is applied every 3 month (i.e. quarterly)

The formula for calculating the worth of the investment after 2 years is A = 1000(1 + k)n

The value of n is

A. 3

B. 2

C. 8

D. 24

Answer 3:


In question 3 the value of k is:

A. 0.02

B. 0.08

C. 2/3

D. 1/150

Answer 4:



In calculating a repayment schedule for a 25 year mortgage the calculation 1.0075300 appeared.

From this what annual interest rate was likely to apply to the mortgage?

A. 7.5%

B. 0.75%

C. 9%

D. 2.25%

Answer 5: