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# 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