Question 1

1. Choose the one alternative that best completes the statement or answers the question. Solve the problem.

   Find the installment price of a table bought on the installment plan with a down payment of $30 and 6 payments of $51.12.

   	$366.72
   	$30
   	$336.72
   	$306.72

10 points

Question 2

1. Find the monthly interest rate.

   What is the monthly interest rate if an annual rate is 17.5%?

   	1.4%
   	1.46%
   	16.5%
   	14.58%

10 points

Question 3

1. Solve the problem.

   Find the amount financed on a TV with a cash price $430.00 and a down payment of $86.00.

   	$429.80
   	$86.00
   	$344.00
   	$430.00

10 points

Question 4

1. Solve the problem.

   Find the amount financed if a $25 down payment is made on a camera with a cash price of $260.

   	$235
   	$25
   	$260
   	$315.86

10 points

Question 5

1. Solve the problem.

   Find the installment price of a laptop computer bought on the installment plan with $90 down and 36 payments of $33.05.

   	$90
   	$1279.80
   	$939.99
   	$1189.80

10 points

Question 6

1. Solve the problem.

   A mountain bike has a cash price of $690.00. Eric purchases the bike by making a down payment of $69.00 and 24 payments of $38.74. Find the finance charge.

   	$621.00
   	$308.76
   	$69.00
   	$310.50

10 points

Question 7

1. Solve the problem.

   The installment price of a watch is $310.74 with 6 monthly payments and a down payment of $30. Find the monthly payment.

   	$280.74
   	$16.74
   	$19.26
   	$46.79

10 points

Question 8

1. Solve the problem.

   The installment price of a food processor is $379.48 with 18 monthly payments and a down payment of $40. Find the monthly payment.

   	$18.86
   	$39.48
   	$339.48
   	$0.52

10 points

Question 9

1. Find the monthly mortgage payment.

   	$402.39
   	$481.63
   	$410.82
   	$346.19

10 points

Question 10

1. Solve the problem.

   Sarah Fields wants to borrow $121,000 at 6.5% to buy a house. How much interest would she save by going with a 15-year mortgage over a 25-year mortgage?

   	$55,321.20
   	$68,752.20
   	$168,940.20
   	$85,595.40

2. Choose the one alternative that best completes the statement or answers the question. Solve the problem.

   Find the installment price of a table bought on the installment plan with a down payment of $30 and 6 payments of $51.12.

   	$366.72
   	$30
   	$336.72
   	$306.72

Question 1

10 points

Question 2

1. Find the monthly interest rate.

   What is the monthly interest rate if an annual rate is 17.5%?

   	1.4%
   	1.46%
   	16.5%
   	14.58%

10 points

Question 3

1. Solve the problem.

   Find the amount financed on a TV with a cash price $430.00 and a down payment of $86.00.

   	$429.80
   	$86.00
   	$344.00
   	$430.00

10 points

Question 4

1. Solve the problem.

   Find the amount financed if a $25 down payment is made on a camera with a cash price of $260.

   	$235
   	$25
   	$260
   	$315.86

10 points

Question 5

1. Solve the problem.

   Find the installment price of a laptop computer bought on the installment plan with $90 down and 36 payments of $33.05.

   	$90
   	$1279.80
   	$939.99
   	$1189.80

10 points

Question 6

1. Solve the problem.

   A mountain bike has a cash price of $690.00. Eric purchases the bike by making a down payment of $69.00 and 24 payments of $38.74. Find the finance charge.

   	$621.00
   	$308.76
   	$69.00
   	$310.50

10 points

Question 7

1. Solve the problem.

   The installment price of a watch is $310.74 with 6 monthly payments and a down payment of $30. Find the monthly payment.

   	$280.74
   	$16.74
   	$19.26
   	$46.79

10 points

Question 8

1. Solve the problem.

   The installment price of a food processor is $379.48 with 18 monthly payments and a down payment of $40. Find the monthly payment.

   	$18.86
   	$39.48
   	$339.48
   	$0.52

10 points

Question 9

1. Find the monthly mortgage payment.

   	$402.39
   	$481.63
   	$410.82
   	$346.19

10 points

Question 10

1. Solve the problem.

   Sarah Fields wants to borrow $121,000 at 6.5% to buy a house. How much interest would she save by going with a 15-year mortgage over a 25-year mortgage?

   	$55,321.20
   	$68,752.20
   	$168,940.20
   	$85,595.40