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Staticshock3102

buying a car

Staticshock3102
Apr 23rd, 2018
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  1.  
  2. Question Number 1 Points: 5.00/5.00
  3. Question Text
  4. Using the given formula, solve the following problem: Given that the monthly car payment is $802.21, the annual interest rate is 6.5%, and the finance term is 60 months, what price car can you afford?
  5. A = P times the quantity of the quantity 1 + r, to the power of n minus 1 divided by the r times the quantity 1 + r, to the power of n
  6. Your Answer
  7. C. $41,000
  8. Question Number 2 Points: 5.00/5.00
  9. Question Text
  10. Use the given formula to solve the following problem: When the amount financed is $15,480, the monthly payment is $621.33, and the monthly interest rate is 0.00583, how long do you have to pay?
  11. n = log of the quantity P divided by the quantity P minus eh R, divided by the log of the quantity 1 plus r
  12. Your Answer
  13. C. 27 months
  14. Question Number 3 Points: 0.00/5.00
  15. Question Text
  16. Using the given formula, solve the following problem: Given that the monthly car payment is $650, the annual interest rate is 7%, and the finance term is 36 months, what price car can you afford? (Round answers to nearest thousand)
  17. A = P times the quantity of the quantity 1 + r, to the power of n minus 1 divided by the r times the quantity 1 + r, to the power of n
  18. Your Answer
  19. D. $26,000
  20. Question Number 4 Points: 5.00/5.00
  21. Question Text
  22. In order to enjoy the privilege of driving, what two things must a would-be driver do?
  23. Your Answer
  24. C. Meet age, training, and license requirements and agree to abide by the law
  25. Question Number 5 Points: 5.00/5.00
  26. Question Text
  27. Use the given formula to solve the following problem: When the amount financed is $12,000, the monthly payment is $422.36, and the annual interest rate is 6.65%, how long do you have to pay?
  28. n = log of the quantity P divided by the quantity P minus eh R, divided by the log of the quantity 1 plus r
  29. Your Answer
  30. C. 31 months
  31. Question Number 6 Points: 5.00/5.00
  32. Question Text
  33. What does the actual purchase price of the car NOT include?
  34. Your Answer
  35. A. Additional features, such as XM radio subscription
  36. Question Number 7 Points: 5.00/5.00
  37. Question Text
  38. What will the approximate markup percentage rate be for M = $1,740 marked up from P = $19,422?
  39. Your Answer
  40. B. 9.00%
  41. Question Number 8 Points: 5.00/5.00
  42. Question Text
  43. What will M be in the equation M = S – P, where M is the dealer markup, S is the sticker price, and P is the dealer price? S = $27,293 and P = $21,119.
  44. Your Answer
  45. C. $6,174
  46. Question Number 9 Points: 5.00/5.00
  47. Question Text
  48. What is the concept that expresses the modern transportation rule?
  49. Your Answer
  50. D. We live in a mobile society.
  51. Question Number 10 Points: 5.00/5.00
  52. Question Text
  53. The price on the price sheet of a new car contains a bottom line called what?
  54. Your Answer
  55. D. Sticker price
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