Wk 2 Summative Assessment:
Exam Questions & Expertly Verified
Quiz____?
An annuity has a 5% rate of return and an investor will make monthly contributions.
Estimating from the following graph, what monthly contribution is needed for the annuity to
have a future value of at least $200,000 in 30 years?
A) Less than $50 monthly
B) Between $100 and $200 monthly
C) Between $50 and $100 monthly
D) More than $200 monthly -
Answer✓✓
More than $200 monthly
Quiz____?
The formula in cell A2 is =B1+10. The formula is copy-pasted to cell A3, so A3's formula
will be which of the following?
A) =B2+10
B) =A4+10
C) =B1+21
D) =A1+10 -
Answer✓✓
=B2+10
1
, Quiz____?
The following figure shows estimated medical costs versus what a user actually pays for
three health insurance plans with different deductibles. If a user's estimated medical costs
are $100, what is the order of plans from cheapest to costliest regarding what the user
pays?
A) $500 deductible plan (cheapest), $2,000 deductible plan, $1,000 deductible plan
B) $2,000 deductible plan (cheapest), $1,000 deductible plan, $500 deductible plan
C) $500 deductible plan (cheapest), $1,000 deductible plan, $2,000 deductible plan
D) $1,000 deductible plan (cheapest), $2,000 deductible plan, $500 deductible plan -
Answer✓✓
$2,000 deductible plan (cheapest), $1,000 deductible plan, $500 deductible plan
Quiz____?
To what value will the formula =A1*B1 in C3 evaluate?
A) 15
B) 28
C) 14
D) 35 -
Answer✓✓
35
Quiz____?
An airline charges nothing for a suitcase up to 20 lb. For every pound over 20, the airline
charges $2 per pound (only for pounds over 20). How much does the airline charge for a
35-lb. suitcase?
2
, A) $70
B) $30
C) $2
D) $20 -
Answer✓✓
$30
Quiz____?
What is the form of an exponential function?
A) y=X exponent B
B) Y=bx
C) Y=b exponent X below b
D) y=b exponent X -
Answer✓✓
y=b exponent X
Quiz____?
The following figure shows total costs for three gym memberships. Which orders the
memberships from the cheapest to the costliest initial (startup) cost?
A) Platinum (cheapest), Standard, Platinum
B) Monthly (cheapest), Standard, Platinum
C) Standard (cheapest), Premium, Monthly
D) Standard (cheapest), Monthly, Platinum -
Answer✓✓
3
Exam Questions & Expertly Verified
Quiz____?
An annuity has a 5% rate of return and an investor will make monthly contributions.
Estimating from the following graph, what monthly contribution is needed for the annuity to
have a future value of at least $200,000 in 30 years?
A) Less than $50 monthly
B) Between $100 and $200 monthly
C) Between $50 and $100 monthly
D) More than $200 monthly -
Answer✓✓
More than $200 monthly
Quiz____?
The formula in cell A2 is =B1+10. The formula is copy-pasted to cell A3, so A3's formula
will be which of the following?
A) =B2+10
B) =A4+10
C) =B1+21
D) =A1+10 -
Answer✓✓
=B2+10
1
, Quiz____?
The following figure shows estimated medical costs versus what a user actually pays for
three health insurance plans with different deductibles. If a user's estimated medical costs
are $100, what is the order of plans from cheapest to costliest regarding what the user
pays?
A) $500 deductible plan (cheapest), $2,000 deductible plan, $1,000 deductible plan
B) $2,000 deductible plan (cheapest), $1,000 deductible plan, $500 deductible plan
C) $500 deductible plan (cheapest), $1,000 deductible plan, $2,000 deductible plan
D) $1,000 deductible plan (cheapest), $2,000 deductible plan, $500 deductible plan -
Answer✓✓
$2,000 deductible plan (cheapest), $1,000 deductible plan, $500 deductible plan
Quiz____?
To what value will the formula =A1*B1 in C3 evaluate?
A) 15
B) 28
C) 14
D) 35 -
Answer✓✓
35
Quiz____?
An airline charges nothing for a suitcase up to 20 lb. For every pound over 20, the airline
charges $2 per pound (only for pounds over 20). How much does the airline charge for a
35-lb. suitcase?
2
, A) $70
B) $30
C) $2
D) $20 -
Answer✓✓
$30
Quiz____?
What is the form of an exponential function?
A) y=X exponent B
B) Y=bx
C) Y=b exponent X below b
D) y=b exponent X -
Answer✓✓
y=b exponent X
Quiz____?
The following figure shows total costs for three gym memberships. Which orders the
memberships from the cheapest to the costliest initial (startup) cost?
A) Platinum (cheapest), Standard, Platinum
B) Monthly (cheapest), Standard, Platinum
C) Standard (cheapest), Premium, Monthly
D) Standard (cheapest), Monthly, Platinum -
Answer✓✓
3
