Consumer Credit

Monique buys a $4,700 air conditioning system using an installment plan that requires a 15% down payment. How much is the down payment?

• $705

• $70.50

• $313.33

• $31,333.33

Tags

CCSS.7.RP.A.3

Craig wants to purchase a boat that costs $1,420. He signs an installment agreement requiring a 20% down payment. He currently has $250 saved. Does he have enough for the down payment?

• Yes

• No

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Jean bought a $1,980 snow blower on an installment plan. The installment agreement included a 10% down payment and 18 monthly payments of $116 each. How much is the down payment?

• $314

• $19,800

• $198

• $19.08

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.2

CCSS.7.NS.A.3

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Jean bought a $1,980 snow blower on an installment plan. The installment agreement included a 10% down payment and 18 monthly payments of $116 each. What is the total amount of the monthly payments?

• $116

• $2,088

• $2,286

• $1,890

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

Jean bought a $1,980 snow blower on an installment plan. The installment agreement included a 10% down payment and 18 monthly payments of $116 each. How much did Jean pay in total for the snow blower using the installment plan?

• $314

• $2,088

• $1,890

• $2,286

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

Jean bought a $1,980 snow blower on an installment plan. The installment agreement included a 10% down payment and 18 monthly payments of $116 each. What is the finance charge?

• $306

• $108

• $90

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Zeke bought a $2,300 bobsled on the installment plan. He made a $450 down payment and he has to make monthly payments of $93.50 for the next two years. How much interest will he pay?

• $2,694

• $2,244

• $394

• $106

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

Gary is buying a $1,250 computer on the installment plan. He makes a down payment of $150 and he has to make monthly payments of $48.25 for 2.5 years. What is the finance charge?

• $197.50

• $347.50

• $979.37

• $47.50

Tags

CCSS.7.EE.B.3

CCSS.7.EE.B.4

CCSS.7.NS.A.1

CCSS.7.NS.A.3

Mazzeo's Appliance Store requires a down payment of 1/3 of the total purchase price. Norton's Depot requires a 30% down payment of the total purchase price. Which store's down payment rate is lower?

• Norton's Depot

• Mazzeo's Appliance Store

Tags

CCSS.7.RP.A.1

CCSS.7.RP.A.2

CCSS.7.RP.A.3

A layaway plan is similar to an installment plan, but the customer does not receive the merchandise until it is paid for. It is held in the store for a fee. If you purchased a $1,700 set of golf clubs on a nine-month layaway plan and had to pay a monthly payment of $201, what was the fee charged for the layaway plan?

• $712

• $0

• $109

Tags

CCSS.7.EE.B.3

CCSS.7.EE.B.4

CCSS.7.NS.A.3