Purchasing a New Car

The base price of the car you wish to purchase is $21,478.00 and has a destination charge of $270.00 and the option package you chose is $1,248.00. What would be your total purchase price?

• $22,726.00

• $22,996.00

• $21,478.00

• $21,748.00

James paid $27,745.00 for his new pickup truck. What is the total price of the truck if he finances it at an interest rate of 4.5% for 4 years?

• $31,284.72

• $28,993.53

• $32,739.12

• $29,269.37

What is the total amount you would pay for a new car if the monthly payments are $315.00 for 4 years?

• $15,120.00

• $1,260.00

• $16,734.00

• $13,278.00

Taylor wants to take out a simple interest loan on a new car in the amount of $18,765. The interest rate is 6.5% for 5 years. How much will he pay in interest during the term of the loan?

• $6,908.65

• $1,219.73

• $6,098.65

• $1,291.73

How much would you have to finance on your new SUV that costs $32,995.00 if you paid 20% down?

• $30,436.00

• $32,995.00

• $6,599.00

• $26,396.00

Jim’s new $25,000.00 car depreciated 15% in the first year. What is the new value of the car?

• $28,283.00

• $21,250.00

• $20,015.00

• $10,000.00

Tina’s new $19,000.00 truck depreciated 20% the first year and 10% the second year. What is the value of the truck at the end of the second year?

• $15,200.00

• $13,300.00

• $15,770.00

• $13,680.00

The dealer is willing to take $1000.00 off the $26,985.00 sticker price of the vehicle you want to purchase, and you plan to put 10% down. What is the amount that you will need to finance?

• $23,386.50

• $1,000.00

• $25,985.00

• $26,985.00