Car Loan Calculations and Strategies
Interactive Video
•
Mathematics, Business, Life Skills
•
8th - 12th Grade
•
Practice Problem
•
Medium
+3
Standards-aligned
Liam Anderson
Used 4+ times
FREE Resource
Standards-aligned
Read more
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula used to calculate the monthly car payment?
Principal plus annual interest rate divided by number of payments
Principal divided by annual interest rate times number of payments
Principal times annual interest rate divided by number of payments
Principal minus annual interest rate times number of payments
Tags
CCSS.6.EE.B.6
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In Sally's example, what is the value of 'n' in the formula?
10
12
30
6
Tags
CCSS.8.EE.C.7B
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the final monthly payment amount for Sally's car loan?
$300.00
$333.06
$350.00
$360.00
Tags
CCSS.HSF.BF.A.2
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the total interest paid on Sally's loan?
$9,967.38
$10,000.00
$8,500.00
$12,000.00
Tags
CCSS.8.EE.C.7B
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one benefit of using an online loan calculator?
It provides a random estimate
It confirms the accuracy of manual calculations
It increases the loan amount
It extends the loan term
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the principal amount for Megan's loan after the down payment?
$60,000
$90,000
$80,000
$70,000
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the annual interest rate for Megan's loan in decimal form?
0.06
0.05
0.04
0.03
Tags
CCSS.8.EE.C.7B
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