Derek Boone purchased an automobile sound system for $850 and financed it at 12% ordinary interest for 90 days. How much interest did he pay?
Robert Hernandez purchased fishing equipment for $438.50. He made a 15% down payment and financed the remainder. How much did he finance?
Barbara Morris purchased a dining room table and chairs for $2,305.60. She made a 35% down payment and financed the rest. How much was her down payment?
Terri Naujock is purchasing a new computer system for $1,430.86 with an installment loan that has an APR of 12%. The store financing requires a 15% down payment and 12 monthly payments. What is the finance charge? The monthly payment is $8.88 per $100.
Susan Castro obtained a loan of $1,450 for a new air conditioner for her home. The interest rate is 13% and the monthly payment is $129.51. What is the interest on the first monthly payment?
Janet Murphy took out a simple interest loan at 9.5% interest for 12 months. Her previous balance is $890. What is the final payment if the loan is paid off with the next payment?
Michael LeBlanc took out a simple interest loan at 12.8% interest for 6 months. His previous balance is $235.40. What is his final payment if the loan is paid off with the next payment?
Cathy Jones obtained a loan for $1,300 and promised to repay the loan in 12 months. The finance charge is $73.32. What is the APR?
Add to my formatives list