Loan Payment and Term Analysis
Interactive Video
•
Mathematics, Business
•
9th - 12th Grade
•
Practice Problem
•
Hard
Ethan Morris
FREE Resource
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5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the original loan amount mentioned in the scenario?
$35,000
$37,500
$40,000
$42,500
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the APR of the car loan?
6.5%
6.2%
6.0%
5.5%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many months is the original loan term?
72 months
78 months
66 months
60 months
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the new monthly payment amount used to calculate the reduced loan term?
$625
$650
$675
$700
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
By how many months can the loan term be reduced with the increased payment?
4 months
7 months
6 months
5 months
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