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I will rate best answer.
1. I = Prt is the formula for simple interest. The principal is $4,840, the interest rate is 6%, and the time is two years. What is the interest charge?
A. $58.08
B. $580.80
C. $620.19
D. $5,808.00
2. I = Prt is the formula for simple interest. The principal is $6,500, the interest rate is 4.25%, and the time is three years. What is the interest charge?
A. $778.45
B. $827.25
C. $828.75
D. $908.50
3. Saving a set percentage of your earnings has what advantage(s)?
A. It keeps you saving all the time and automatically adjusts to your earnings.
B. It keeps you supplied with spending money.
C. It allows you to have a lot of extra money for special occasions.
D. It guarantees that your money will always be safe.
4. If you work 40 hours per week at $13.00 per hour and save 10% of your gross earnings, how much will you save per week?
A. $26
B. $52
C. $78
D. $104
5. If you save $50 per month, how much will you save (not including interest) in one year?
A. $300
B. $600
C. $900
D. $1,200
6. What should you total up in addition to the sales price before making a large purchase?
A. All taxes, indirect expenses, insurance, maintenance, and hidden costs
B. All taxes, discounts, and your trade-in
C. Discounts, finder’s fees, and tips
D. Trade-in value after ten years
7. What are three things that need to be known in order to find the total cost of a loan?
A. The blue book value, the miles per gallon, and the price of gasoline
B. Your credit rating, the day of the month the payments are due, and when you start paying
C. The interest rate, monthly payment, and number of payments
D. The loan officer’s name, the default procedure, and the finance company’s phone number
I will rate best answer.
1. I = Prt is the formula for simple interest. The principal is $4,840, the interest rate is 6%, and the time is two years. What is the interest charge?
A. $58.08
B. $580.80
C. $620.19
D. $5,808.00
2. I = Prt is the formula for simple interest. The principal is $6,500, the interest rate is 4.25%, and the time is three years. What is the interest charge?
A. $778.45
B. $827.25
C. $828.75
D. $908.50
3. Saving a set percentage of your earnings has what advantage(s)?
A. It keeps you saving all the time and automatically adjusts to your earnings.
B. It keeps you supplied with spending money.
C. It allows you to have a lot of extra money for special occasions.
D. It guarantees that your money will always be safe.
4. If you work 40 hours per week at $13.00 per hour and save 10% of your gross earnings, how much will you save per week?
A. $26
B. $52
C. $78
D. $104
5. If you save $50 per month, how much will you save (not including interest) in one year?
A. $300
B. $600
C. $900
D. $1,200
6. What should you total up in addition to the sales price before making a large purchase?
A. All taxes, indirect expenses, insurance, maintenance, and hidden costs
B. All taxes, discounts, and your trade-in
C. Discounts, finder’s fees, and tips
D. Trade-in value after ten years
7. What are three things that need to be known in order to find the total cost of a loan?
A. The blue book value, the miles per gallon, and the price of gasoline
B. Your credit rating, the day of the month the payments are due, and when you start paying
C. The interest rate, monthly payment, and number of payments
D. The loan officer’s name, the default procedure, and the finance company’s phone number
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