3-2/3-3 Loan Calculations

If a loan has a term of 15 years, how many monthly payments will be made?

• 15

• 160

• 175

• 180

Tags

CCSS.8.EE.C.7B

If a loan has a term of 3½ years, how many monthly payments will be made?

• 42

• 36

• 40

• 38

If a loan has a term of 4¼ years, how many monthly payments will be made?

• 51

• 48

• 54

• 50

Tags

CCSS.8.EE.C.7B

Lisa wants to take out a $5,000 loan. What is the monthly payment for a 4-year loan at 8.5% interest?

• $1272.21

• $915.59

• $123.24

• $88.85

John needs to borrow $7,500 for a new car. What is the monthly payment for a 5-year loan at 7.2% interest?

• $135.54

• $149.22

• $1453.06

• $1527.11

Emily plans to take out a $6,000 loan. What is the monthly payment for a 3-year loan at 9% interest?

• $190.80

• $90.22

• $2030.07

• $868.74

What is the finance charge paid on a $13,200 loan over 5 years with an APR of 5%?

• $249.10

• $1746.02

• $2673.09

• $165.46

Tags

CCSS.7.RP.A.3

What is the finance charge paid on a $7,200 loan over 4 years with an APR of 8.5%?

• $1,318.45

• $177.47

• $127.95

• $1,831.99

Tags

CCSS.7.RP.A.3

What is the finance charge paid on a $4,500 loan over 8 years with an APR of 6%?

• $1177.10

• $4500.00

• $59.14

• $5677.10

Tags

CCSS.7.RP.A.3

John takes out a $8,000, 5-year loan with an APR of 8%. What is the total amount of the monthly payments for 5 years?

• $162.21

• $1732.67

• $9732.67

• $8000.00