Semester Test Math of Finance

You want to buy a house that is valued at $215,000. You are putting 15% down. What is the down payment? What is the loan amount?

• 15; 214985

• 3225; 211,775

• 32,250; 182,750

• 107,500; 107500

The Lawrences consider purchasing a new home for $224,000. A 10% down payment is required. What is the amount of the mortgage loan needed to finance the purchase?

• $22,400

• $171,360.00

• $179,200.00

• $201,600.00

The assessed value of Sherman house is $625,000. The annual property tax rate is 1.75% of the assessed value.
 
What is the property tax on their home?

• $10,937.50

• $12,983.25

• $109,375

• $15,360.69

The assessed value of Sherman house is $625,000. The annual property tax rate is 1.75% of the assessed value.
 
How much do they pay monthly towards property taxes? Round to the nearest cent.

• $911.46

• $1,081.94

• $9,114.58

• $1,280.06

Mindy's home.

Market Value: $72,000

Rate of Assessment is 30%

What is the assessed value?

• $31,256

• $21,600

• $23,890

• $12,567

You are purchasing a T.V for $990 T.V with 9% sales tax. What is the final price of the T.V.?

• $ 1881.00

• $ 1079.00

• $ 1,079.10

• $ 1,709.1

Mrs. Ray is buying some groceries.  They total to $35.50.  Sales tax is 4.5%.  When she goes to pay, how much will she owe?

• $1.60

• $37.10

• $40.00

• $51.48

Daniel has dinner at a restaurant and the cost of his meal is $28.00. Because of the service, he wants to leave a 20% tip. What is his total bill including tip?

• 33.60

• 40.00

• 24.60

• 30.50

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