Faith is taking an $8,100, 2½ - year loan an APR of 8.22%. What is the monthly payment for this loan?
Financial Algebra Chapter 3 Review 22

Quiz
•
Mathematics
•
12th Grade
•
Hard
Amy Hansen
Used 10+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
$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
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
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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