Questions from Financial Algebra

Q: Nick and Liz have decided to move from the city to the

Nick and Liz have decided to move from the city to the suburbs. This means that they will have to make the essential purchase of a car in order to get to work. They researched used 2-year-old cars of...

Q: Interpret the quote in the context of what you learned about consumer

Interpret the quote in the context of what you learned about consumer credit in this section. Solve each problem. Round monetary amounts to the nearest cent.

Q: Adam bought a $1,670 custom video game/sound

Adam bought a $1,670 custom video game/sound system on a special no-interest plan. He made a $100 down payment and agreed to pay the entire purchase off in 1½ years. The minimum monthly payment is $10...

Q: Kate is a professional musician. She wants to make an essential

Kate is a professional musician. She wants to make an essential purchase of an upgraded used bass guitar for her work. She found the following prices for the same make and model bass guitar from vario...

Q: Mary wants to go on a $10,000 vacation in

Mary wants to go on a $10,000 vacation in 6 months. She has a bank account that pays 2.25% interest, compounded monthly. How much must she deposit each month to afford the vacation?

Q: If Tanya purchased a $1,700 set of golf clubs

If Tanya purchased a $1,700 set of golf clubs on a 9-month layaway plan and had to pay a monthly payment of $201, what is the sum of the monthly payments? What was the fee charged for the layaway plan...

Q: How might the quote apply to what you have learned?

How might the quote apply to what you have learned?

Q: Chris purchases living room furniture for $4,345 from Halloran

Chris purchases living room furniture for $4,345 from Halloran Gallery. She has a 1-year, no-interest, no-money-down, deferred payment plan. She does have to make a $15 monthly payment for the first 1...

Q: Bernie bought a refrigerator at a special sale. The refrigerator regularly

Bernie bought a refrigerator at a special sale. The refrigerator regularly sold for $986. No down payment was required. Bernie has to pay $69 per month for 1½ years. What is the average amount Bernie...

Q: Monique buys a $4,700 air conditioning system using an

Monique buys a $4,700 air conditioning system using an installment plan that requires 15% down. How much is the down payment?