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- 1. Multiple Choice
An installment plan is where...
customers pay for expensive items, in equal payments over a period of time
customers pay for expensive items whenever they have the money
customers pay for half up front and then half later when they get their item
customers pay a fee to have their purchase installed in their home
- 2. Multiple Choice
When we estimate using 10% of a number, the mental math is to...
add 10
subtract 10
multiply by 10
divide by 10
- 3. Fill in the Blank
What is 10% of 258.00
- 4. Multiple Choice
What is 10% of $2415.60 (rounded to the nearest cent)
$2415
$241.56
$24156.00
$2.42
- 5. Multiple Choice
What is a downpayment?
an amount equal to tax
a percentage of the total cost of the item that is paid at the beginning
an amount of money that is paid every month on an item
that last payment that is made on an item before you own it
- 6. Multiple Choice
How much is a 10% downpayment on an item that costs $5800?
$5800.00
$580.00
$58.00
$5.80
- 7. Multiple Choice
How much is each monthly payment for an item that is paid for over 12 months and has an original price of $4825?
$4837.00 / month
$57.90 / month
$402.08 / month
$48.13 / month
- 8. Multiple Choice
What is one problem with installment plans?
You have to pay too much in the beginning
It's too difficult to spell
You have to pay GST every month on the payments
The price you pay over a year or two years is MORE than what you would pay if you pay up front.
- 9. Multiple Choice
How much is it per month for an item that is $2900? Add tax and pay over 12 months.
$273.08
$241.67
$242.75
$136.54
- 10. Multiple Choice
What is sometimes an added cost for choosing an installment plan?
PST
Administration fees
weekly payments
discounts
- 11. Multiple Choice
What is the final cost of a gaming system after 12 months if you pay $37.99 a month? (tax is already included)
91.76
$480.00
$455.88
$181.99
- 12. Multiple Choice
A bedroom set costs $9800 and is on sale for 25% off.
What is the cost with 13% tax?
$2450.00
$7350.00
$11,074.00
$8305.50
- 13. Multiple Choice
The bedroom set with the 25% discount and 13% tax is $8305.50. What is the monthly payment if the payments are for 2 years?
$346.06
$692.00
$2,076.38
$4,152.50
- 14. Multiple Choice
An aquarium costs $30.56 every month. The total cost, after all installments are paid, is $550.08. How many months does it take to pay off the aquarium?
1
12
18
24
- 15. Multiple Choice
Which of the following would you NOT be able to buy using installments?
entertainment system
new computer
groceries for the week
used vehicle
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