TEST Qtr 4 week 6 (GA) consumer math 7-1 through 7-4

Single-payment loan for $2400.

144 days at an interest rate of 18%.

What is the ordinary interest for this loan?

Single-payment loan for $2400.

144 days at an interest rate of 18%.

Using ordinary interest what is the maturity value of this loan?

Single-payment loan for $44,000.

Repay loan in 270 days at an interest rate of 14.35%.

What is the exact interest for this loan?

Single-payment loan for $44,000.

Repay loan in 270 days at an interest rate of 14.35%.

Using exact interest what is the maturity value for this loan?

Cash price of $1265.

20% down payment.

What amount is the down payment?

Cash price of $1265.

20% down payment.

What amount is being financed?

Using the chart.

Installment loan of $2000.

12 monthly payments.

APR at 18%.

What are the monthly payments?

Using the chart.

Installment loan of $2000.

12 monthly payments.

APR at 18%.

What is the finance charge?

Purchasing a dishwasher, $699.95, using intallment loan . The APR is 18% for 12 months. The down payment is 20%. What will the monthly payment be?

Purchasing a dishwasher, $699.95, using intallment loan . The APR is 18% for 12 months. The down payment is 20%. What will the down payment be?