Consumer Math Final Review #2

Scott's bank granted him a single-payment loan of $3,250 to 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 the loan?

• $3,211.09

• $3,282.43

• $3300.90

• $3,554.66

Tags

CCSS.7.RP.A.3

Vanessa borrowed $21,000 for new lawn care equipment for her design business. The bank granted her a single-payment loan of $21,000 for 144 days at an ordinary interest rate of 9%. What is the maturity value of his loan?

• $21,262.50

• $21,745.64

• $745.64

• $21,000

Tags

CCSS.7.RP.A.3

Rebecca purchased a new flat screen television for $767. She made a 20% down payment and financed the remainder. What amount did she finance?

• $613.60

• $617.50

• $665.00

• $767

Tags

CCSS.6.RP.A.3C

Recall, Peter backed into a lamppost and caused $4,300 worth of damage. He has a collision policy with a $1,000 deductible. How much will the insurance company pay?

• $4,300

• $1,000

• $3,300

• $0

Tags

CCSS.7.NS.A.1D

Mrs. Lennon has 100/275/50 liability insurance and $50,000 PIP insurance. During an ice storm, she hits a fence and bounces into a storefront with 11 people inside. Some are hurt and sue her. A passenger in Mrs. Lennon's car is also hurt. The storefront will cost $24,000 to replace. There was $1,450 damage to the fence. What insurance will cover this?

• Property Damage

• Bodily Injury

• PIP

• Collision

Tags

CCSS.7.RP.A.3

What kind of coverage pays for damages to your car if you are at fault?

• Collision

• Comprehensive

• Under-insured Motorist

• Uninsured Motorist

Tags

CCSS.6.RP.A.3C

What kind of insurance pays for physical damages to your car from acts of nature such as fire?

• Property Damage

• Medical Payments

• Collision

• Comprehensive

If your policy covers $100,000 of Bodily Damage and you cause $234,000 of Bodily Damage what happens?

• The insurance company will cover all of it

• You pay $134,000 out of pocket

• The company will pay you $134,000 after you pay out of pocket.

• The insurance company will cover none of it.

Tags

CCSS.6.NS.C.5

What kind of insurance would cover you if you hit a deer? The only damage is to your car.

• Liability

• Bodily Injury

• Comprehensive

• None

What is the minimum length of time your money has to be in a Roth IRA so that any withdrawals would be tax-free?

• One year

• Five years

• Ten years

• Fifteen years

Tags

CCSS.7.RP.A.3