Buying a Car

The cost of a car is $25,000 and there is a 15% down payment. What is the down payment amount?

• $375,000

• $2,500

• $3,750

Tags

TEKS.MATH.6.5B

The cost of a car is $25,000 and the down payment is $3,750. What is the total amount to be financed?

• $28,750

• $21,250

• $20,000

Tags

TEKS.MATH.7.3B

 $PMT\ =\frac{A\ \left(\frac{r}{12}\right)}{1-\left(1+\frac{r}{12}\right)^{-nt}}$  

The total amount to be financed is $21,250 over 4 years with a 7.5% annual rate. What will be the monthly payment amount (PMT)? 

***Use the equation***

• $513.80

• $37.45

• $452.21

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

The monthly payments for a car are $513.80 for 4 years (change to months). What is the total amount to be repaid?

• $18,496.80

• $2,055.20

• $24,662.40

Tags

TEKS.MATH.7.3B

The total amount to be financed is $21,250 and the total amount to be repaid is $24,662.40. What is the total interest?

• $400

• $21,250

• $3,412.40

Tags

TEKS.MATH.7.4D

The cost of a car is $22,000 and there is a 10% down payment. What is the down payment amount?

• $220,000

• $2,200

• $1760

Tags

TEKS.MATH.6.5B

The cost of a car is $22,000 and the down payment is $2,200. What is the total amount to be financed?

• $19,800

• $24,200

• $20,000

Tags

TEKS.MATH.7.3B

 $PMT\ =\frac{A\ \left(\frac{r}{12}\right)}{1-\left(1+\frac{r}{12}\right)^{-nt}}$  

The total amount to be financed is $19,800 over 5 years with a 3.7% annual rate. What will be the monthly payment amount (PMT)? 

***Use the equation***

• $513.80

• $6,105.00

• $361.97

Tags

TEKS.MATH.8.8C

The monthly payments for a car are $361.97 for 5 years (change to months). What is the total amount to be repaid?

• $1,809.85

• $21,718.20

• $24,662.40

The total amount to be financed is $19,800 and the total amount to be repaid is $21,718.20. What is the total interest?

• $1,918.20

• $6,734.60

• $523.45

Tags

TEKS.MATH.7.4D