Auto Insurance & Auto Costs

Which word means "diminish in value over time?"

• Title

• Lease

• Depreciate

• Liable

Which word means "the sum of any down payment and all monthly installments (the total amount paid)?"

• Insurance

• Deferred Price

• Base Price

• Premium

Which insurance component covers the injuries of you and your passengers regardless of fault?

• Personal Injury Protection (PIP)

• Liability (B.I & P.D)

• Uninsured Motorist

• Comp./Coll.

Jason is leasing a car for 3 years. He must pay $3000 up front and then $289 a month for the length of the lease. He is allowed 15,000 miles per year and anything over the limit will cost him $0.25 per mile. At the end of his lease, he returns the car with 49,260 miles on the odometer. How much total must he pay for the lease?

• $51,414

• $21,969

• $11,469

• $14,469

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.2

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Which word means "you are responsible (at fault)?"

• Title

• Lease

• Depreciate

• Liable

Which word means "cost of car without options (basic model)?"

• Insurance

• Deferred Price

• Base Price

• Premium

Which insurance component covers the damage done when you hit a guardrail?

• Personal Injury Protection (PIP)

• Liability (B.I & P.D)

• Uninsured Motorist

• Comp./Coll.

Mary is buying a car for $21,790. She finances the car for 4 years at 4.25%. Find her monthly payment. (you might want a separate sheet of paper for this)

N = FV =

I% = P/Y =

PV = C/Y =

PMT =

• $524.69

• $492.69

• $494.44

• $494.43

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.A.2

CCSS.HSA.REI.B.3

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSN.Q.A.1

Which word means "a contract by which one party conveys property to another for a specified time, usually in return for a periodic payment?"

• Title

• Lease

• Depreciate

• Liable

Which word means "providing protection against loss, damage, illness, or death?"

• Insurance

• Deferred Price

• Base Price

• Premium