# Math Applications MCQs Quiz and Answers Tests pdf Download

Practice math applications MCQs in math quiz for test prep. Math applications quiz questions has multiple choice questions (MCQ) with math applications test, answers as to buy a home, nelda borrowed $250,000 for 5 years and paid $60,000 simple interest on loan. rate of interest he paid is, answer key with choices as 8.40%, 6.80%, 5.60% and 4.80% for competitive exam preparation worksheets. Free math revision notes to learn math applications quiz with MCQs to find questions answers based online tests.

## MCQs on Math Applications Quiz pdf Download

MCQ. To buy a home, Nelda borrowed $250,000 for 5 years and paid $60,000 simple interest on loan. rate of interest he paid is

- 8.40%
- 6.80%
- 5.60%
- 4.80%

D

MCQ. Ana borrowed $250000 for 7 years at interest rate of 12% per year. amount she will pay at end of seven years is

- $480,000
- $460,000
- $430,000
- $410,000

B

MCQ. Amount of money lent or borrowed by investors is classified as

- inter bank exchange rate
- compounded rate
- the principal
- interest rate

C

MCQ. Rachel invested $10000 at 8% per annum then time Rachel will take to make it $15000 is

- 8.25 years
- 8 years
- 7.25 years
- 6.25 years

D

MCQ. Michael wants to borrow some money for 48 months at 11% interest per year and pay $1950 in interest charges for his business expansion. amount he could borrow is

- $4,432
- $5,432
- $6,532
- $6,832

A