Chapter 8 Review

What is the maturity value of a single-payment loan of $650 given for 80 days at 15% EXACT interest?

• $685.39

• $671.37

• $652.37

• $670.36

Tags

CCSS.7.RP.A.3

Marcus is buying a new computer for $1,299.50. He made a 12% down payment. How much was the down payment?

• $155.94

• $120.00

• $212.84

• $420.50

Tags

CCSS.6.RP.A.3C

Jenna bought a home gym for $1,299.50. If she made a 15% down payment, how much would she have to cover with a loan?

• $989.60

• $1,149.56

• $1,284.50

• $1,104.58

Tags

CCSS.6.RP.A.3C

If you want to make a 8% down payment on a $3,585 loan, how much money would you need?

• $94.68

• $72.85

• $186.73

• $286.80

Tags

CCSS.6.RP.A.3C

Don obtained a single-payment loan of $21,400. He agreed to repay the loan in 120 days at an ORDINARY interest rate of 8.5%. How much interest did the loan accrue?

• $598.03

• $606.33

• $600

• $595

Tags

CCSS.7.RP.A.3

A treadmill cost costs $789. You pay a down payment of $300. How much do you have to finance?

• $300

• $400

• $489

• $500

Tags

CCSS.3.OA.D.8

Concert tickets cost $4,500. Your down payment is 25%. How much is your down payment?

• $1,000

• $950

• $1,250

• $1,125

Tags

CCSS.6.RP.A.3C

What is 40% of 592?

• 236.80

• 245.25

• 183.26

• 230

Tags

CCSS.6.RP.A.3C

21 ÷ 210 x 4.44

• 44.4

• 4.4

• .444

• 5

Tags

CCSS.7.EE.B.3

What is the definition of "term"?

• a written promise to pay a certain amount of money

• the total amount you must repay

• the amount of time for which the loan is granted

• a loan you must repay with one payment