Unit 4 Review

Erin is buying a new home for $161,900 for 360 month mortgage with 4 % APR. Erin has to pay 12 % down payment.  How much is the down payment.

• $ 29,428
• $ 19,428
• $ 12,000
• $ 11,428

Natasha is buying a new home for $240,200 for 360 month mortgage with 4 % APR. Natasha has to pay 28 % down payment.  What is the amount financed (PV or Loan amount )?

• $ 172,944
• $ 192,944
• $ 177,800
• $ 202,944

Erin is buying a new home for $228,500 for 360 month mortgage. What would her monthly payments be if she had a 4% APR?

• $ 1,190.89
• $ 2,090.12
• $ 1,090.89
• $ 1,099.00

Natasha is buying a new car for $19,000 for 60 month loan. What would her monthly payments be if she had a 3% APR?

• $361.40
• $341.41
• $441.11
• $301.00

Nathan deposited $7,000 in a bank at a simple interest rate of 4.75%.  What would be the balance after 4 years?

• $ 8,330
• $ 9,340
• $ 8,550
• $ 9,330

Tags

CCSS.7.RP.A.3

Eli invested $7,500 in a 6-year CD that paid 4.75% annual interest compounded quarterly. How much money did he have at the end of the 6-year period?

• $ 8,956.49
• $ 10,916.59
• $ 9,000.50
• $ 9,956.49

Tags

CCSS.HSF-LE.A.1C

Martin invested $7,500 at a simple interest rate of 2.5%.  Find the interest after 6 years.

• $1,325
• $1,125
• $2,125
• $1,245

Tags

CCSS.7.RP.A.3

Natasha is buying a 55” TV for her new apartment at Best Buy.  They offered her a TV for $2,299 for 36 monthly payments at $69.59.  How much is the APR?

• 5.22%
• 6.66%
• 5.66%
• 5.89%

Elizabeth is buying a 55” TV for her new apartment at Best Buy.  They offered her a TV for $1,599 for 24 monthly payments at $72.68.  How much is the APR?

• 8.49%
• 9.49%
• 8.79%
• 9.69%

Tags

CCSS.7.RP.A.3

Mark deposited $4,000 in a bank at a simple interest rate of 5.5%.  What would be the balance after 8 years?

• $ 6,660
• $ 5,960
• $ 5,760
• $ 6,000

Tags

CCSS.7.RP.A.3