What is the initial price of the car you want to buy?

Car Loan Calculations and Concepts

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

Jackson Turner
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
$28,000
$35,000
$32,000
$30,000
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percentage of the car price is the down payment?
20%
15%
10%
25%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much is the down payment in dollars?
$4,200
$4,800
$5,000
$4,500
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the loan amount after the down payment?
$26,500
$29,000
$28,000
$27,200
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many total payments will be made over the loan period?
80
60
50
70
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the monthly payment calculated using the TVM solver?
$498.00
$497.50
$496.03
$495.00
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the annual interest rate as a decimal used in the loan formula?
0.035
0.036
0.037
0.038
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