Consumer Math Final Exam 2024

Gene's bank granted him a singe-payment loan of $5,000 for 90 days at 9% ordinary interest. What is the amount of ordinary interest owned?

• $112.50

• $150.00

• $132.50

• $156.20

Tags

CCSS.7.RP.A.3

Jessie obtained a single-payment loan of $3,225 to pay a repair bill. He agreed to repay the loan in 31 days at an exact interest rate of 11.75%. What is the maturity value of his loan?

• $3,257.18

• $42.16

• $4,267.16

• $32.63

Tags

CCSS.7.RP.A.3

Sarah is buying a new couch for $989. She made a down payment of $200 and financed the remainder. What amount did she finance?

• $766

• $789

• $799

• $877

Tags

CCSS.3.OA.D.8

The formula to determine the amount finances is the cash price minus the down payment.

• True

• False

Tags

CCSS.7.NS.A.1D

Peter has collision insurance with a $1,000 deductible. Peter backs his car into a lamppost and causes $4,300 worth of damage to the car. How much will Peter have to pay?

• $4,300

• $1,000

• $3,300

• $0

Tags

CCSS.7.NS.A.1D

Again, Mrs. Lennon has a 100/275/50 liability policy, and carries $50,000 PIP insurance. The passenger in her car had medical bills totaling $20,000. What type of insurance covers this, and how much will the insurance company pay?

• Property Damage: $20,000

• Bodily Injury: $20,000

• PIP; $50,000

• PIP; $20,000

Tags

CCSS.7.RP.A.3

If a rock hits your windshield, what insurance pays to fix it?

• Property Damage

• Collision

• Bodily Injury

• Comprehensive

Tags

CCSS.7.RP.A.3

What is a deduction?

• money the government withholds from your paycheck

• money you subtract from your taxable income to lower the amount of taxes you owe

• a person who depends on you financially

• money your employer withholds from your paycheck to pay taxes on your behalf

Tags

CCSS.7.RP.A.3

What form lets your employer know how much tax to withhold from your paycheck?

• W-4

• W-2

• IRS

• K-9

What form do you need to file your taxes?

• W-4

• W-2

• IRS

• K-9