Professional Documents
Culture Documents
1) Sports car, base price is $19,015. Options: sport appearance package $1,224, power driver’s seat $246,
premium sound system $319, removable hatch roof panels $905, destination charge is $600. What is the
sticker price?
2) A hatchback’s base price is $10,249. The options total $910. The destination charge is $495. Dealer pays
about 93.5 percent of base price and 77 percent of options. What is the dealer’s cost?
3) A four-wheel drive vehicle has an average retail price of $14,500. Add $150 for a tilt steering wheel. Add
$700 for air conditioning. Deduct $600 for manual transmission. Deduct $560 for excessive mileage. What
is the average retail price?
4) Kevin Mahan’s insurance policy has a $237.20 premium for bodily injury and property damage. The
collision premium is $146. Mahan’s driver rating factor is 2.7. What is his annual premium?
5) Kim Leung drove a SUV 11,500 miles. Fixed costs totaled $3,343. Variable costs totaled $1,511.
6) Enrico recently leased a new car. His payments are $658 per month for 60 months. His deposit was
$6,000. He paid $105 title fee and a $80 license fee. What is his total lease cost?
7) Nydia’s total cost to rent a car was $400. The number of miles she drove was 1,000. What was the cost per
mile to rent the vehicle?
8) Home priced at $260,000. Down payment: 30 percent. What is the mortgage loan amount?
9) Betty’s mortgage loan amount is $87,750. She financed her house for 30 years with monthly payments of
$725. At the end of 30 years, what will be the total amount of interest charged?
10) Sarah and her husband have agreed to purchase a house for $87,500. Washington Savings and Loan is
willing to finance the purchase but require a $5,000 down payment and closing costs of 3 percent of the
amount of the mortgage loan. What are the total closing costs?
12) From #11, how much of the first monthly payment is for principal?
14) Jerry’s new home has an estimated replacement value of $215,000. He has insured his home for 80
percent of its replacement value. What is the amount of coverage on the home?
15) Use the figure above. Benito’s home is insured for 90 percent of its $100,000 replacement value. The
home is of wood-frame construction and is rated in fire protection class 8. What is the annual insurance
premium?
16) Helga’s net pay is $50,963. What is the maximum housing cost she can incur without exceeding FHA
guidelines of 35 percent of net pay?
1) D $22,309
2) A $10,778.52
3) B $14,190
4) A $1034.64
6) A $45,665
7) C $0.40
8) A $182,000
9) B $173,250
10) C $2,625
11) C $1,026.67
12) B $103.69
13) C $153,896.31
14) A $172,000
15) A $296
16) C $17,837.05