Installment Plans

An installment plan is where...

• customers pay for expensive items, in equal payments over a period of time

• customers pay for expensive items whenever they have the money

• customers pay for half up front and then half later when they get their item

• customers pay a fee to have their purchase installed in their home

When we estimate using 10% of a number, the mental math is to...

• add 10

• subtract 10

• multiply by 10

• divide by 10

What is 10% of 258.00

Tags

CCSS.6.RP.A.3C

What is 10% of $2415.60 (rounded to the nearest cent)

• $2415

• $241.56

• $24156.00

• $2.42

Tags

CCSS.6.RP.A.3C

What is a downpayment?

• an amount equal to tax

• a percentage of the total cost of the item that is paid at the beginning

• an amount of money that is paid every month on an item

• that last payment that is made on an item before you own it

Tags

CCSS.RI.9-10.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.11-12.4

CCSS.RI.9-10.4

How much is a 10% downpayment on an item that costs $5800?

• $5800.00

• $580.00

• $58.00

• $5.80

Tags

CCSS.6.RP.A.3C

How much is each monthly payment for an item that is paid for over 12 months and has an original price of $4825?

• $4837.00 / month

• $57.90 / month

• $402.08 / month

• $48.13 / month

Tags

CCSS.6.EE.B.6

What is one problem with installment plans?

• You have to pay too much in the beginning

• It's too difficult to spell

• You have to pay GST every month on the payments

• The price you pay over a year or two years is MORE than what you would pay if you pay up front.

Tags

CCSS.7.NS.A.3

How much is it per month for an item that is $2900? Add tax and pay over 12 months.

• $273.08

• $241.67

• $242.75

• $136.54

Tags

CCSS.6.RP.A.3B

What is sometimes an added cost for choosing an installment plan?

• PST

• Administration fees

• weekly payments

• discounts

Tags

CCSS.7.RP.A.3