4.1
Joe wants to purchase an electric keyboard. The price of the keyboard at Macelli’s, with tax, is $2,344. He can save $150 per month. How long will it take him to save for the keyboard?
16 months
Cecilia bought a new car. The total amount she needs to borrow is $29,541. She plans to take out a 4-year loan at an APR of 6.3%. What is the monthly payment?
$697.84
What is the total interest on a 15-year, 4.98% loan with a principal of $40,000?
$16,862.00
What is Mr. Jarrett's Home School?
Western Reserve
What is the total of 3 nickels, 2 quarters, 3 dimes, and 4 pennies?
99 cents.
Mrs. Grudman bought a dishwasher at a special sale. The dishwasher regularly sold for $912. No down payment was required. Mrs. Grudman has to pay $160 for the next six months. What is the average amount she pays in interest each month?
$8 a month
The Star Pawnshop will lend up to 45% of the value of a borrower’s collateral. Ryan wants to use $4,000 worth of jewelry as collateral for a loan. What is the maximum amount that he could borrow from Star?
$1800
Merissa wants to borrow $15,000 to purchase a used truck. After looking at her monthly
budget, she realizes that all she can afford to pay per month is $325. The bank is offering a
7.25% loan. What should the length of her loan be so that she can keep within her budget?
Round your answer to the nearest year.
5 years
What is Mr. Jarrett's favorite subject
Math
What percentage of $1 is 1 penny?
1%
Carey bought a $2,100 computer system on the installment plan. He made a $400 down payment, and he has to make monthly payments of $79.50 for the next two years. How much interest will he pay?
$208
Liz found an error in the monthly payment her bank charged her for a four-year, $19,500 loan. She took the loan out at an APR of 9%. Her bank was charging her $495.26 per month. What is the correct monthly payment?
$485.26
Tom and Kathy want to borrow $35,000 in order to build an addition to their home. Their bank
will lend them the money for 12 years at an interest rate of 5 %. How much will they pay in
interest to the bank over the life of the loan?
$11,614.24
What is Mr. Jarrett's College
Mount Union
How many pennies would make $100?
10,000 pennies
Monique purchases a $5,100 dining room set. She can’t afford to pay cash, so she uses the installment plan, which requires an 18% down payment. How much is the down payment?
$918
What is the monthly payment for a $3,200 five-year loan with an APR of 9%?
What is the monthly payment for a 10-year, $20,000 loan at 4.625% APR?
Bonus $100 (this doubles too if stolen)
What is the total interest paid on this loan?
$208.48
Bonus: $5,017.60
What is Mr. Jarrett's favorite sport
Football
This person is on the $100 bill.
Who is Ben Franklin?
Depot Headquarters has a new promotional payment plan. All purchases can be paid off on the installment plan with no interest, as long as the total is paid in full within twelve months. There is a $25 minimum monthly payment required. If the Koslow family buys a hot tub for $4,355, and they make only the minimum payment for 11 months, how much will they have to pay in the 12th month?
$4,080
What is the total amount of the monthly payments for a $6,100, two-year loan with an APR of 8.75%?
$6,671.45
Max is taking out a 5.1% loan in order to purchase a $17,000 car. The length of the loan is five years. How much will he pay in interest?
$2,295.40
What is Mr. Jarrett's Birth Month
March
If you have 1 million dollars and spend 1,000 a day, how long would it last?
2.7 years (about 1000 days)