Financial Algebra Chapter 3 Review 22

Financial Algebra Chapter 3 Review 22

12th Grade

10 Qs

quiz-placeholder

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Financial Algebra Chapter 3 Review 22

Financial Algebra Chapter 3 Review 22

Assessment

Quiz

Mathematics

12th Grade

Hard

Created by

Amy Hansen

Used 10+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Faith is taking an $8,100, 2½ - year loan an APR of 8.22%.  What is the monthly payment for this loan?

$312.48

$308.15

$300.42

$304.08

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Shania bought a $1,455 drum set on the installment plan.  The installment agreement included a 15% down payment and 18 monthly payments of $80.78 each.

How much is the down payment?

$215.25

$218.25

$220.25

$212.25

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Shania bought a $1,455 drum set on the installment plan.  The installment agreement included a 15% down payment and 18 monthly payments of $80.78 each.

  What is the total amount of the monthly payment?

$1,450

$1,456.08

$1,455

$1,454.04

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Shania bought a $1,455 drum set on the installment plan.  The installment agreement included a 15% down payment and 18 monthly payments of $80.78 each.

What is the finance charge?

$217.29

$215.56

$218.25

$221.36

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Carly took a $7,000, three – year loan with an APR of 8.5%. What is her monthly payment?

$220.15

$31.45

$220.99

$31.57

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Carly took a $7,000, three – year loan with an APR of 8.5%. What is her finance charge?

$960.08

$957.87

$956.12

$955.64

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The finance charge on Lauren’s credit card bill last month was $13.50.  Her APR is 18%.  What was her average daily balance?

$1,000

$900

$950

$1,050

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