3.Loan Payment and Interest
Authored by Timmi Bengela
Other, Mathematics
9th - 12th Grade
Used 25+ times
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10 questions
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1.
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15 mins • 1 pt
What is the monthly payment for a $3,200 five-year loan with an APR of 9%?
2.
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15 mins • 1 pt
Cecilia bought a new car. The total amount she needs to borrow is $29,541. She plans to take out a 4-year loan at an APR of 6.3%. What is the monthly payment?
3.
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15 mins • 1 pt
Jeanne has a $14,800, 3-year loan with an APR of 8.56%. What is the principle?
4.
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15 mins • 1 pt
Claire needs to borrow $12,000 from a local bank. She plans to take out a 6.5 year loan at an APR of 6.3%. What will be the exponent in the formula?
5.
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15 mins • 1 pt
Dean wants to take out a loan for $5,525 at an APR of 12% for 36 months. What will his monthly payment be?
6.
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15 mins • 1 pt
Danny took out a loan of $3,200 at an APR of 15% for 6 months. What is the exponent in the formula?
7.
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15 mins • 1 pt
Manuel took out a loan for $3,500 at an APR of 8% for 60 months. What is his monthly payment?
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