Questions from Financial Algebra

Q: Craig wants to purchase a boat that costs $1,420

Craig wants to purchase a boat that costs $1,420. He signs an installment agreement requiring a 20% down payment. He currently has $250 saved. Does he have enough for the down payment?

Q: Jean bought a $1,980 snow thrower on an installment

Jean bought a $1,980 snow thrower on an installment plan. The installment agreement included a 10% down payment and 18 monthly payments of $116 each. a. How much is the down payment? b. What is the...

Q: Interpret the quote in terms of what you have learned about essential

Interpret the quote in terms of what you have learned about essential and discretionary expenses.

Q: Zeke bought a $2,300 bobsled on an installment plan

Zeke bought a $2,300 bobsled on an installment plan. He made a $450 down payment, and he has to make monthly payments of $93.50 for the next 2 years. How much total interest will he pay?

Q: Gary is buying a $1,250 computer on an installment

Gary is buying a $1,250 computer on an installment plan. He makes a down payment of $150. He has to make monthly payments of $48.25 for 212 years. What is the total finance charge?

Q: Janine is 21 years old. She opens an account that pays

Janine is 21 years old. She opens an account that pays 1.25% interest, compounded monthly. She sets a goal of saving $10,000 by the time she is 24 years old. How much must she deposit each month?

Q: Mazzeo’s Appliance Store requires a down payment of 13 on all installment

Mazzeo’s Appliance Store requires a down payment of 13 on all installment purchases. Norton’s Depot requires a 30% down payment on installment purchases. Which store’s down payment rate is lower?

Q: President Carter’s quote could have been revised in 2016 since, at

President Carter’s quote could have been revised in 2016 since, at that point in time, 46% of the world had Internet access. Interpret the quote in the context of what you know about the standard of l...

Q: Ralph just received his June Flash Card bill. He did not

Ralph just received his June Flash Card bill. He did not pay his May bill in full, so his June bill shows a previous balance and a finance charge. The average daily balance is $470, and the monthly pe...

Q: Aaron’s cell phone plan includes 3GB of data. On the 21st

Aaron’s cell phone plan includes 3GB of data. On the 21st day of his billing period, Aaron received a message from his service provider that he had already used 75% of his data allowance for the 31-da...