Finance Calculation Flashcard

Front

How do you calculate the Finance Charge?

Back

Finance Charge = Installment Price - Cash Price

Front

What is the formula for the percentage increase in price?

Back

% Increase in Price = Finance Charge / Cash Price

Front

If the cash price of a washer is $3,200, with a down payment of $350 and $120 monthly for 36 months, what is the installment price?

Back

$4,670

Front

If the cash price of a washer is $3,200, with a down payment of $350 and $120 monthly for 36 months, what is the finance charge?

Back

$1,470

Front

If the cash price of a washer is $3,200, with a down payment of $350 and $120 monthly for 36 months, what is the percentage increase in price?

Back

45.9%

Front

For a refrigerator costing $1,900 with a $350 down payment and 10 monthly payments, what is the monthly payment amount?

Back

$155

Front

A grill costs $600 with a $125 down payment and $25 monthly payments. How many monthly payments are required?

Back

19

Front

What is the formula for calculating Sales Tax?

Back

Sales Tax = Sales Tax Rate x Subtotal of Taxable Items

Front

How do you calculate the Total Cost of nontaxable items?

Back

Total Cost = Subtotal of Taxable Items + Subtotal of Nontaxable Items + Sales Tax

Front

A car is priced at $4,300 with a 6% state sales tax and a 2% city sales tax. What is the total sales tax amount?

Back

$344