Calculate Discounts
A jacket is on sale for 20% off its $80 tag price. How much is the discount?
What is $16?
Estimate mentally: 18% of $60 (give a quick mental estimate and the exact answer).
What is $12?
Exact: $10.8
The annual cost for borrowing money.
What is the APR (Annual Percentage Rate)?
List at least five categories (besides loan payments) that contribute to the total cost of owning a car.
What are the taxes, title, tag, registration, and price?
An electronic gadget has a list price of $399 and is discounted by 15% with an additional $20 off at checkout. What is the final price? Round to nearest cent.
What is $319.15?
Quickly estimate a 15% tip on a $36.50 bill using a mental shortcut, then compute the exact tip. Round to the nearest cent.
What is $5.45?
Exact: $5.48
For a small loan of $5,000 at 6% APR for 2 years (monthly payments), compute the monthly payment using the loan amortization formula. Round to the nearest cent.
What is $221.60?
If a car costs $21,000 and you finance $18,000 over 48 months at 3.5% APR, estimate the monthly payment (approximate using a calculator) and compute the total paid for the financed portion. Round to the nearest cent.
What is $400.00?
Total: $19,295.07 -- Finance Charge: $1,295.07
A store offers "Buy one, get the second at 50% off" on an item priced $120. If a customer buys two, what is the average price per item? Round to nearest cent.
What is $90?
You buy groceries totaling $73.89. Estimate the total after applying a 6.25% tax using rounding strategies, then compute the exact total. Round to nearest cent.
What is $78.00 - $79.00?
Exact: $78.51
A $12,000 auto loan with 4.5% APR is taken for 60 months. Compute the monthly payment.
Compute the total amount paid over the life of the loan. Round to the nearest cent.
What is $204.61?
Total: $12,276.52
Consider two financing offers for the same car price: Offer A — $20,000 at 3.0% APR for 60 months; Offer B — $20,000 at 2.5% APR for 72 months. Compute monthly payments and total paid for both offers; state which is cheaper overall in total dollars paid. Round to the nearest cent.
FREE MONEY!!!
A seasonal clearance offers an item at 40% off, then an additional 10% off the new price. If the original price is $250, compute the final price.
Compute the total percent off the original price (round percent to the nearest tenth).
What is $135.00?
Total Discount: 46.0%
Estimate the final price of a $249 item after a 12% discount using mental math techniques. Then compute the exact final price. Round to nearest cent.
What is $220.00?
Exact: $219.12
A borrower wants a monthly payment under $350 on a $18,000 loan with 5% APR over 60 months. Determine whether this is possible; if not, find the minimum term (in months) required to get payments under $350 assuming the same APR (round up to the next whole month).
FREE MONEY!!!
During a sale, a customer stacks three successive discounts: 20%, then 15%, then 10% on a $1,200 item. Compute the final price.
Compute the overall effective percent discount from the original price. Round money to the nearest cent and percent to the nearest hundredth.
What is $734.40?
Total Discount: 38.8%
Using mental estimation, determine whether a 9% increase on $5,480 will yield an increase closer to $490 or $520. Then compute the exact increase and state rounded to the nearest dollar.
What is $490.00?
Exact: $493.20
A loan of $25,000 at 3.75% APR is amortized over 72 months. Compute the monthly payment.
Compute the total finance charge (total interest paid). Round currency to the nearest cent.
What is $457.60?
Total Finance Charge: $7,947.20