3.1 Introduction to Consumer Credit - practice B

Heather wants to purchase an electric guitar. The price of the guitar with tax is $2,240. If she can save $90 per month, how long will it take her to save up for the guitar?

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CCSS.6.EE.B.7

If Heather's guitar costs x dollars and she can save y dollars per month, express algebraically the number of months it would take Heather to save for the guitar.

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CCSS.6.EE.B.7

If the Schusters pay $20 for 5 months, they will have paid a total of $100. Subtract to find what they owe in the 6th month. Purchase price – amount paid = $2,134 – $100 = _______.

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CCSS.4.OA.A.3

Cecilia purchased $4,322 worth of home appliances on Appliance Depot's deferred payment plan. The plan allows the customer to make no down payment, and there is no payment at all for 3 months. If the entire $4,322 is paid in full before the 3 months is up, there is no interest. If it is not paid in full within the 3 months, there is a finance charge with an APR of 21.6% applied each month going back to the first month. If Cecilia makes the full payment a week after the 3 months expired, what is the finance charge?

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CCSS.7.RP.A.3

If Cecilia’s plan was a 2-year deferred payment plan and she paid it a week late after the 2 years, would her total interest be more or less than $1,800? Explain.

Marty is making a layaway purchase of a $1,500 couch at Frank's Furniture Store. He will be paying $156 every 2 weeks for 20 weeks on a layaway plan. What is the layaway fee for this purchase?

Janet had a credit score of 660. She then missed three monthly payments on her credit cards, and her score was lowered x points. Express her new credit score algebraically.

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CCSS.6.EE.B.6

Monique buys a $4,700 air conditioning system using an installment plan that requires 15% down. How much is the down payment?

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CCSS.6.RP.A.3C

Craig wants to purchase a boat that costs $1,420. He signs an installment agreement requiring a 20% down payment. He currently has $250 saved. Does he have enough for the down payment?

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CCSS.6.RP.A.3C

Jean bought a $1,980 snow thrower on an installment plan. The installment agreement included a 10% down payment and 18 monthly payments of $116 each. How much is the down payment?

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CCSS.6.RP.A.3D