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8.4 & 8.5 Review

Authored by Stephanie Hemmelgarn

Mathematics

9th - 12th Grade

CCSS covered

Used 4+ times

8.4 & 8.5 Review
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17 questions

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1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A repayment schedule shows the distribution of interest and other charges over the life of a loan. It usually does not show the principal.

True

False

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

One reason you might want to make the final payment of your loan before the end of the term is so that you will pay less interest.

True

False

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Chico Alvarez obtained a loan of $2,400 to install a new roof on his home. The interest rate is 12% and the monthly payment is $113.04. What is the interest on the first monthly payment?

$24.00

$25.04

$29.90

$32.01

Tags

CCSS.HSA.SSE.B.4

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Camryn Mason obtained a $1,200 loan for her scuba diving lessons. She borrowed the money for 6 months at 7% interest. Her monthly payment is $204.10. What is the interest for the second payment?

$3.53

$4.69

$5.85

$7.00

Tags

CCSS.7.RP.A.3

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Camryn Mason obtained a $1,200 loan for her scuba diving lessons. She borrowed the money for 6 months at 7% interest. Her monthly payment is $204.10. What is the balance of her loan after three payments?

$199.41

$404.67

$605.24

$804.65

Tags

CCSS.HSF.BF.A.2

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Brad Clark took out a simple interest loan at 13% interest for 12 months. His previous balance is $619. What is the final payment if the loan is paid off with the next payment?

$621.00

$625.71

$634.00

$675.09

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Marc Maxwell took out a simple interest loan at 13% interest for 12 months. His previous balance is $2,681.04. What is the final payment if the loan is paid off with the next payment?

$2,710.08

$2,801.01

$2,876.91

$2,998.01

Tags

CCSS.7.RP.A.3

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