Financial Math Fall Final Unit 2 Calculations Review

Front

What is the total move-in cost for an apartment if the application fee is $25, the security deposit is $300, and the first and last month’s rent is $650 each?

Back

Total move-in cost = Application fee + Security deposit + First month’s rent + Last month’s rent = $25 + $300 + $650 + $650 = $1,625.

Front

How do you calculate a down payment if the car costs $4,000 and the down payment percentage is 15%?

Back

Down payment = Car cost × Down payment percentage = $4,000 × 0.15 = $600.

Front

What are Anna's total medical expenses if she has a $20 copay for 7 doctor visits, a $350 x-ray, and a $120 cast and sling?

Back

Total medical expenses = (Copay × Number of visits) + X-ray cost + Cast cost = ($20 × 7) + $350 + $120 = $610.

Front

If the total rent for a house is $1,980 and there are 4 roommates, how much does each person pay?

Back

Each person's portion of rent = Total rent ÷ Number of roommates = $1,980 ÷ 4 = $495.

Front

How much will Speed Racer have to finance if the car costs $76,000 and he makes a 20% down payment?

Back

Down payment = Car cost × Down payment percentage = $76,000 × 0.20 = $15,200. Amount to finance = Car cost - Down payment = $76,000 - $15,200 = $60,800.

Front

What is the formula to calculate total move-in costs for renting an apartment?

Back

Total move-in costs = Application fee + Security deposit + First month’s rent + Last month’s rent.

Front

What does a copay mean in medical expenses?

Back

A copay is a fixed amount paid by a patient for a specific service, usually at the time of the visit.

Front

How do you find the percentage of a total amount?

Back

Percentage = (Part ÷ Whole) × 100.

Front

What is the significance of a security deposit when renting an apartment?

Back

A security deposit is a sum of money held by the landlord to cover potential damages or unpaid rent.

Front

How do you calculate the total cost of renting an apartment for the first month?

Back

Total cost for the first month = First month’s rent + Application fee + Security deposit.