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?

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?

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

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

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?

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?

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

What is a deduction?

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

What form do you need to file your taxes?