Financing

Monique buys a $6200 living room set using an installment plan that requires 15% down. How much is the down payment? How much should she pay monthly to have it paid off in 18 months?

• $930; $293

• $930; $600

• $1100; $420

• $930; $344

Tags

CCSS.6.RP.A.3C

Jackson and Kate Jones do not pay their credit card in full each month, so they incur interest charges. On their last credit card statement, the average daily balance is $875 and the card has an interest rate of 27%APR. What should be the interest charged on the statement? (a)  

• $19.69
• $20.25
• $87.50
• $236.25

Tags

CCSS.7.RP.A.3

Which purchase option is the best for a phone upgrade?

• Pay $100 down and $35 per month for 2 years.

• pay $0 down and $40 per month for two years

• pay $200 down and pay $50 per month for one year.

Tags

CCSS.8.F.A.2

CCSS.HSF.IF.C.9

How much would a new phone cost if you paid $200 down and $50 per month for one year?

• $200

• $600

• $800

• $960

Tags

CCSS.8.EE.C.7B

Kate and Albert do not pay their credit card in full each month, so they incur interest fees. On their last credit card statement, the average daily balance is $896 and the monthly interest rate is 2.75%. What should the interest fee be on the statement? (a)  

• $2,464
• $24.64
• $29,568
• $29.68

Tags

CCSS.7.RP.A.3

Shay is charged an interest fee on her credit card with a balance of $775.45. Her APR is 22%. What is her interest charge for this month's billing cycle? (a)  

• $14.21
• $17,059.90
• $17.60
• $1,419.07

Tags

CCSS.7.RP.A.3

Which is the best finance option for paying off a used car purchase of $8,500?

• Pay $1,000 down and $150 per month for 60 months.

• Pay $0 down and $200 per month for 60 months.

• pay $500 down and $200 per month for 48 months.

Tags

CCSS.8.F.A.2

CCSS.HSF.IF.C.9

If you currently have a balance on a credit card of $1,200 and the interest rate on the account is 26.99% how long will it take you to pay off the card if you pay $50 per month? (Use this credit card payoff calculator: https://www.bankrate.com/finance/credit-cards/credit-card-payoff-calculator/)

• 10 months

• 26 months

• 30 months

• 35 months

If you currently have a balance on a credit card of $1,200 and the interest rate on the account is 26.99% how much would you have to pay per month to pay off the card in 1 year? (Use this credit card payoff calculator: https://www.bankrate.com/finance/credit-cards/credit-card-payoff-calculator/)

• $50

• $82

• $115

• $136

Tags

CCSS.8.EE.C.7B

You decide to purchase a new refrigerator for $2100 at home depot. Home depot allows you to finance the purhase interest free if paid off in 12 months. How much do you need to pay each month so that the refrigerator is paid off in 1 year?

• $175

• $188

• $200

• $216

Tags

CCSS.6.EE.B.6