Homework 8.2

Leo will be attending The University of Texas. His total cost for one year's attendance is $18,750. Leo qualifies for a total of $8,000 in scholarships and grants per year, and he will earn $2,500 each year through a work-study program. Including financial aid, what should Leo estimate the cost per year to be?

• $8,250

• $29,250

• $13,250

• $10,500

How much interest will be earned in three years

from $730 placed in a savings account at 6.5%

simple interest?

• $142.35

• $892.53

• $587.65

• $1,423.50

Mrs. Conner bought a house for $55,000 with a

simple interest rate of 7% for 15 years. How much

did she pay for her house?

• $57,750

• $112,750

• $2,750

• $577,500

Meghan is attending a college where tuition is $8,600 per year. She received a $3,000 grant and her parents will give her another $2,500. How much will Meghan have to earn on a work-study program to pay for the first year’s tuition?

• $3,100

• $14,100

• $9,100

• $8,100

Brent took out a 48-month loan for $16,000 to

buy a car. If the simple interest rate was 8%, how

much will he pay for the car including interest?

• $5,120

• $21,120

• $61,440

• $45,440

  

 $5\frac{1}{4}+8\frac{1}{3}$  

•  $13\ \frac{7}{12}$  

•  $17\ \frac{3}{12}$  

•  $13\ \frac{2}{7}$  

•  $13\ \frac{2}{7}$  

18 months = ? years

• 1 year

• 1.5 years

• 2 years

• 2.5 years

24 months = ? years

• 1 year

• 1.5 years

• 2 years

• 2.5 years

30 months = ? years

• 1 year

• 1.5 years

• 2 years

• 2.5 years

7% as a decimal

• 0.07

• 0.70

• 7.0

• 70.0