
Car Purchase and Financial Concepts

Interactive Video
•
Mathematics, Business, Life Skills
•
9th - 12th Grade
•
Hard

Sophia Harris
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of using the annuity formula in this lesson?
To calculate the interest rate of a loan
To determine the regular savings amount needed to reach a financial goal
To estimate the depreciation of a car
To find the total cost of a car
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in deriving the formula for the regular deposit amount?
Dividing the principal by the interest rate
Subtracting the interest rate from the principal
Multiplying both sides by the interest rate divided by the number of compounds per year
Adding the interest rate to the principal
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the example of purchasing a car, what is the total cost of the car?
$25,000
$20,000
$15,500
$10,000
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much would you need to save monthly to purchase the car in four years?
$609.47
$150.00
$286.52
$500.00
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much interest is earned over the four-year period in the car purchase example?
$1,000.00
$1,747.04
$2,500.00
$3,000.00
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If saving for two years instead of four, what is the new monthly savings amount?
$800.00
$609.47
$400.00
$286.52
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much interest is earned over the two-year period?
$1,200.00
$1,747.04
$872.78
$500.00
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