X Chapter 10 Section 4 Test

Determine the monthly payment for the installment loan.

Amount financed $900

Annual Percetnage rate 5.5%

Number of payments per year 12

Time in years (t) 2

• $19.82

• $37.74

• $39.70

• $75.00

• Answer Not Here

Determine the monthly payment for the installment loan.

Amount financed $12,500

Annual Percetnage rate 4.0%

Number of payments per year 12

Time in years (t) 5

• $208.51

• $230.21

• $218.83

• $208.33

• Answer Not Here

Jose bought a $13,000 used car. He recieved a trade in credit of $5500 for his old car. The APR was 6.5% with a 4 year fixed installment loan. What was his finance charge?

• $1797.90

• $1037.25

• $13.83

• Answer Not Here

Tags

CCSS.7.RP.A.3

Jose bought a $13,000 used car. He recieved a trade in credit of $5500 for his old car. The APR was 6.5% with a 4 year fixed installment loan. What was his monthly payment

• $76.50

• $308.29

• $177.86

• Answer Not Here

Janet pays $9000 for a used car. She put 10% down on the car. If her APR is 4.5% for 48 months, what is her finance charge?

• $187.50

• $851.40

• $766.26

• answer not here

Tags

CCSS.7.RP.A.3

Janet pays $9000 for a used car. She put 10% down on the car. If her APR is 4.5% for 48 months, what is her monthly payment?

• $184.71

• $205.24

• answer not here

• $186.49

• $203.46

Samamtha bought a she-shed for $6500 with 10% down. If her payments are $176.65 per month for 36 month, what is her finance charge?

• $650.00

• $140.60

• $509.40

• $521.15

Tags

CCSS.7.RP.A.3

Samamtha bought a she-shed for $6500 with 10% down. If her payments are $176.65 per month for 36 month, what is her interest rate. (Round to nearest 0.5%)

• 5%

• 5.5%

• 6%

• 6.5%

Susan bought new furniture that cost $3800.00. She put 20% down. If her monthly payments are $136.80 for 24 months what is her finance charge?

• answer not here

• $263.21

• $516.80

• $243.20

Tags

CCSS.7.RP.A.3

Susan bought new furniture that cost $3800.00. She put 20% down. If her monthly payments are $136.80 for 24 months what is her APR? (If needed round answer to nearest 0.5%.)

• answer not here

• 6.0%

• 6.5%

• 7.0%

• 7.5%