Question: Please answer the simple math questions below 5 questions 1. A patio furniture set sells for $935.00 on the installment plan which includes the finance

Please answer the simple math questions below 5 questions

Please answer the simple math questions below 5 questions 1. A patio

1. A patio furniture set sells for $935.00 on the installment plan which includes the finance charge. The payment plan calls for 15% down and the balance in 12 equal payments. The amount of each payment is: (Points : 2) $66.23 $77.92 $89.60 $140.25 Question 2. 2. Joan purchased a new car for $18,000.00. She put down $3,600.00 and paid $300.00 for 60 months. The total finance charge to Joan was: (Points : 2) $2,400.00 $3,250.00 $3,000.00 $3,600.00 Question 3. 3. To find the total cost of a purchase, multiply the amount of each payment by the number of payments in the loan and then add the: (Points : 2) amount financed down payment finance charge installment payment Question 4. 4. The cost of an item if the full amount had been paid at the time of sale is called the: (Points : 2) cash price down payment price installment price total price Question 5. 5. John purchased a new boat for $24,600.00. He put a $5,400.00 down payment on it. The bank's loan was for 60 months. Finance charges totaled $6,400.00. His monthly payment was: (Points : 2) $106.67 $250.00 $410.00 $426.67

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!