9.02 Quiz: Self Check 3

The table shown represents the details of a car loan. Cost of car $11,578 Down Payment $4,100 Amount Financed A Monthly Payment $251.34 # Months 36 Amount Repaid B Finance Charge C Total Cost D What is the value of C?

$1,570.24

The table shown represents the details of a car loan. Cost of car $11,578 Down Payment $4,100 Amount Financed A Monthly Payment $251.34 # Months 36 Amount Repaid B Finance Charge C Total Cost D What is the value of D?

$13,148.24

What is the amount to repay on $13,300 financed at 7.9 percent for 4 years if the monthly payment per $100 is $2.44?

$15,576.96

What is the finance charge on $13,300 financed at 7.9 percent for 4 years if the monthly payment per $100 is $2.44?

$2,276.96

What is the monthly payment for a loan if the amount to finance is $12,385, the APR is 6.9 percent for 5 years, and the monthly payment per $100 is $1.98?

$245.22

What is the monthly payment on $13,300 financed at 7.9 percent for 4 years if the monthly payment per $100 is $2.44?

$324.52

The table shown represents the details of a car loan. Cost of car $11,578 Down Payment $4,100 Amount Financed A Monthly Payment $251.34 # Months 36 Amount Repaid B Finance Charge C Total Cost D What is the value of A?

$7,478

The table shown represents the details of a car loan. Cost of car $11,578 Down Payment $4,100 Amount Financed A Monthly Payment $251.34 # Months 36 Amount Repaid B Finance Charge C Total Cost D What is the value of B?

$9,048.24

Loan A $15,000 6.9% 5 years Loan B $15,500 7.9% 3 years Use the tables to answer the question. Which loan has the lowest payment?

A

Which of the following should be considered when deciding on a loan?

All of these (the most affordable monthly payment, the fastest payoff, the lowest finance charge)

Loan A $15,000 6.9% 5 years Loan B $15,500 7.9% 3 years Use the tables to answer the question. Which loan will cost the least to repay?

B