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NAME_______________________________________________________________________PERIOD___________POINTS____________ INTRODUCTION TO BUSINESS AUTOMOBILES MATH WORKSHEET 20 TOTAL POINTS; 2 points per problem (must show all work and circle the answer in order to receive full credit) 1. A $15,000 new car will depreciate 30% the first year. How much is the car worth at the end of the first month of ownership? 2. The monthly payment on a four-year car loan was $425.65. The principle of the loan was $16,200. What was the total finance charge? 3. You and the salesman agreed on a price of $7,400 for a used car. The sales tax rate was 6.0%. What was the cash price of the car? 4. The principle of a four-year car loan was $15,500 and the finance charge was $4,960. What was the monthly payment? 5. You took out a loan to buy a used truck that cost $8,400. Your trade-in was worth 30% of the cost of the truck you were buying. What was the amount you had to finance? OVER 6. The used car guide listed a car’s retail value at $10,500. You bought the same car at an auction for 8% less. How much did you pay for the car? 7. When you left home, your odometer reading was 34,475.3. When you got home, it was 34,928.9. Your car gets 24 miles to a gallon. How many gallons of gas did you use? 8. In March you bought two tires at $79.99 each and in October you bought two tires on sale at $62.99 each. If sales tax is 6%, what was the cash price of the four tires you bought? 9. The total six-month car insurance premium for a family of four with two teenage sons is $2,193.00. The parents’ premium is $465.00. What is the cost of each teenager’s portion of the premium? 10. The cost of your car repair bill included $29.52 for parts and $111.00 for labor. What percentage of your total bill was for parts?
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