1. Julio wants to purchase a truck. The purchase price of the truck is $40,000. The dealership will allow him to pay cash or finance the truck for a down payment of $4,000 and 60 monthly payments of $750. Julio chooses to finance the truck. What is the amount financed, what is the total amount of monthly payments and what is the amount of the finance charge? 2. Calculate the following scenario using the simple interest formula. Elroy wants to get a loan for $7,000 at an interest rate of 6% for 2 years to be paid back in 24 monthly installments. What is the amount of the monthly payments? Round the answer to the nearest cent (hundredth). 3. Cedric budgets 20% of his salary for car expenses. His salary is $4,200. How much money does he need to budget for car expenses? 4. A television stand at Wiles' Discount Mart is $187, and the sales tax is 6%. What is the amount of tax to be paid for the TV? 5. A TV at Best Buy is $990, and they charge 6% sales tax. What is the amount of tax you would pay for the TV? 6. Samuel earns $500 each week working his full time job. His employer has a 17% tax deduction on all monies earned each week. Calculate the tax deduction Samuel paid for that week. 7. Manuel earns $639 each week working his full time job. His employer has a 9.84% tax deduction on all monies earned each week. Calculate the tax deduction he paid for that week. 8. Ben worked 52 hours last week. His hourly rate for hours worked is $10. After his 40 hour work week, he is paid time and a half for the overtime hours. What is Ben's gross pay for last week? 9. Juanita has a gross pay of $975 ever pay period. After all deductions are taken out her net pay is $735. What percentage of her gross pay does she take home as her net pay? 10. Given the below lease terms at a local car dealership, what is the total cash paid by the end of the lease when at signing the dealership required a down payment, security deposit, acquisition fee at signing and all the monthly payments paid? Length of lease= 48 months MSRP of the car= $29,750 Purchase value of the car after lease= $19,900 down payment= $1,800 monthly payment= $475 security deposit= $375 Acquisition fee=$300 11. Given the below lease terms at a local car dealership, what is the total cash paid by the end of the lease when at signing the dealership required a down payment, security deposit, acquisition fee at signing and all the monthly payments paid? Length of lease= 36 months MSRP of the car= $22, 750 Purchase value of the car after lease= $16,900 Down payment= 1,000 Monthly payment= $475 Security deposit= $375 Acquisition fee= $300