# Consumer math !!!! please check

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Determine the total in Dexter's account after the second month using the information below.
Dexter Banler's account
Principal: \$1,604
Rate: 10% compound
Length of period: month

>\$3208.00
\$1764.40
\$1630.85

3. Ray Sugar's account
Principal: \$1,700
Rate: 9.5% compound
Length of period: quarter
Third quarter's interest: _________

\$161.50
>\$16.15
\$42.32

4. Determine the total in Ray's account after three quarters using the information below.
Ray Sugar's account
Principal: \$1,700
Rate: 9.5% compound
Length of period: quarter

>\$1,861.50
\$1824.03
\$1716.15

5. Determine the second quarter's interest earned by Sue's account using the information below.
Sue Palka's account
Principal: \$2,118
Rate: 8.75% compound
Length of period: quarter
Second quarter's interest: _________

\$185.33
\$176.56
>\$47.34

6. Determine the total in Sue's account after 2 quarters using the information below.
Sue Palka's account
Principal: \$2,118
Rate: 8.75% compound
Length of period: quarter

>\$2,211.67
\$2,165.34
\$2,303.33

7. Determine the total loan amount for Sean Combs.
Amount of loan: _________
Number of payments: 9
Each payment: \$15.90
Interest: \$18.10

\$125
\$143.10
>\$124.20

8. Determine the number of payments for Micah McCarter.
Amount of loan: \$5,500
Number of payments: _________
Each payment: \$125.13
Interest: \$506.24

44
> 48
52

9. Determine the amount of each payment for Kyle Moneymaker.
Amount of loan: \$1,500
Number of payments: 24
Each payment: _________
Interest: \$66

>\$62.50
\$66.75
\$65.25

10. Kristen Taylor purchased a new coat for \$289. She paid \$50 down and borrowed the remainder. She had to make 8 payments of \$32.27 each. How much interest did she pay on the loan? \$59.16
\$19.16
>\$29.16

11. Borrowed: \$250
Loan type: single payment
Interest rate: 12%
Time of loan: 2 months
Amount to repay: _________
>\$255
\$280
\$310

12. Borrowed: \$500
Loan type: installment
Interest rate: 8.5%
Number of payments: 12
Monthly installment: _________
\$45.21
\$41.67
>\$43.61

13. Borrowed: \$474
Loan type: single payment
Interest rate: 16%
Time of loan: 1 month
Amount to repay: _________
>\$549.84
\$480.32
\$492.34

14. Borrowed: \$800
Loan type: single payment
Interest rate: 15%
Time of loan: 3 months
Amount to repay: _________
\$920
\$860
>\$830

15. Borrowed: \$950
Loan type: monthly installments
Interest rate: 9.5%
Number of payments: 30
Monthly installments: _________
\$39.19
\$32.80
>\$35.70

16. Borrowed: \$400
Interest rate: 9%
Number of payments: 12 monthly installments
Monthly payment: _________
\$36.33
\$34.56
>\$37.65

• Consumer math !!!! please check -

Up to #9, you have #6 and #8 are correct.

I will appreciate if you could show how you worked out the remaining numbers so that any incorrect notions could be corrected accordingly.

There is no use throwing a coin to make a guess if you don't know how to get the right answer.

For example, in the first question, the principal is \$1604. At 10% for a whole year (instead of two months), it would be approximately 10% more at about \$160 in interest. So it is impossible to expect \$3208 over two months!

Try calculated guesses if you have to make them.

• Consumer math !!!! please check -

Drew borrowed \$1,250. He made 12 payment of \$118

• Consumer math !!!! please check -

Borrowed \$950 and make monthly installment at 9.5% for 30 payments how many monthly installments are there?

• Consumer math !!!! please check -

Are the answers right or wrong above?

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