Mica bought a grandfather clock on installment with a down payment of 150 and 18 payments of 46.87. What is the installment price?
A) 693.66
B) 843.66
C) 993.66
D) 1,143.66
Q. 2Hal Jacobsen purchased a lawn mower priced at 340 on an installment plan. Hal put 10 down and will pay the remaining balance in 12 monthly payments of 36 each. How much is Hal paying in finance charges?
A) 34
B) 92
C) 126
D) 138
Q. 3Kaylah has a charge card with a monthly rate of 1.7 on amounts up to 1,000 and 1.1 on amounts over 1,000. Kaylah's previous balance was 1,406.35. She made a payment of 250, charged 113.48, and was issued a credit for 129.63. Using the previous balance method, what is her new balance?
A) 1,920.93
B) 1,420.93
C) 1,307.45
D) 1,170.93
Q. 4Luigi has a charge card at Willis' Auto Supplies with an APR of 15. Luigi wants to calculate the finance charges on a previous balance of 319.67. Which statement is true?
A) He should multiply 319.67 by 0.015.
B) He should multiply 319.67 by 0.015 12.
C) He should multiply 319.67 by 0.15.
D) He should multiply 319.67 by 15 12.
Q. 5The APR for Renee's charge account at Super Mart is 21. Using the previous balance method, what are the finance charges on Renee's previous balance of 645.32?
A) 11.29
B) 13.55
C) 111.29
D) 135.52
Q. 6Paul Hare had a previous balance of 216.54 on his clothing store credit card. He made purchases of 32.10 and a payment of 100. The interest charge was 2.1. What is the new unpaid balance of Paul's credit card using the previous balance method?
A) 353.19
B) 279.89
C) 194.02
D) 153.19
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