Car Buying Skills

If the total cost of a car is $25,000 and the sales tax is 8%, what is the total cost of the car including tax?

• $26,000

• $27,000

• $27,500

• $26,500

Tags

CCSS.6.RP.A.3C

You are comparing two financing options for a car purchase. The first option has an annual interest rate of 5% with a term of 4 years, and the second option has an annual interest rate of 4.5% with a term of 5 years. If the loan amount is $20,000, which option will cost less in interest over the life of the loan?

• Option 1

• Option 2

• Both options cost the same

• Cannot be determined with the given information

Tags

CCSS.8.F.A.2

CCSS.HSF.IF.C.9

A car loan offers a monthly payment of $300 for 5 years with an annual interest rate of 6%. What is the total amount paid over the life of the loan?

• $16,000

• $18,000

• $20,000

• $22,000

Tags

CCSS.HSF.BF.A.2

• $21,000

• $23,000

• $25,000

• $26,000

Tags

CCSS.7.EE.B.3

• Loan A

• Loan B

• Both loans have the same total cost

• Cannot be determined with the given information

Tags

CCSS.8.F.A.2

CCSS.HSF.IF.C.9

A car loan has an APR (Annual Percentage Rate) of 7%. If the principal amount of the loan is $15,000, what is the interest for the first year?

• $1,050

• $1,500

• $1,200

• $1,050.50

Tags

CCSS.7.RP.A.3

If you make a down payment of 20% on a car that costs $30,000, how much is your down payment?

• $5,000

• $6,000

• $7,000

• $8,000

Tags

CCSS.6.RP.A.3C

A car's price is listed as $22,000. If you negotiate a 10% discount, how much will you pay before taxes?

• $19,800

• $20,000

• $20,200

• $21,000

Tags

CCSS.6.RP.A.3C

If a car loan's monthly payment is $400 and the interest rate is 5% per year, what is the total interest paid on a 3-year loan?

• $1,200

• $1,400

• $1,600

• $2,400

Tags

CCSS.7.RP.A.3

When interpreting car loan terms, if the loan term is 60 months and the APR is 8%, what is the total number of years for the loan?

• 4 years

• 5 years

• 6 years

• 7 years

Tags

CCSS.8.EE.C.7B