Consumer Math WK 4

Question 1Choose 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$306.72Question 2Find 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%Question 3Solve 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$430.00Question 4Solve 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$315.86Question 5Solve 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$1189.80Question 6Solve 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$310.50Question 7Solve 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$46.79Question 8Solve 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$0.52Question 9Find the monthly mortgage payment.$402.39$481.63$410.82$346.19Question 10Solve 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

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