Consumer Mathfinal Exam Review

Consumer Mathfinal Exam Review

Name ______Date ______

Consumer MathFinal Exam Review

1. The base price of a car is listed at $22,750. Factory-installed options total $1,015. The destination charge is $325. What is the sticker price?

2. A charge account shows a starting balance of $2186.27, a finance charge of $5.50, new purchases of $61.25 and $21.86, a payment of $40.00, and a credit of $23.15. What is the ending balance?

3. A rental car costs $199 for one week with unlimited mileage. If you drive 1,620 miles and paid $120 for gasoline. What was the total cost per mile to rent the car?

4. You purchased a used vehicle for $5,000 one year ago and drove 12,000 miles during the year and kept a record of all your expenses. The variable costs (gas, repairs, oil, etc.) totaled $1,720, and the fixed costs (insurance, registration, etc) totaled $1,476.00. What was the cost per mile for you to operate the vehicle in one year?

5. A charge account has a periodic finance rate of 1.5% for unpaid balances. The previous balance is $88.41, and a payment of $37.00 is made. If a new purchase of $168.59 is made, what is the new balance?

6. A charge account statement showed a previous balance of $174.27, a finance charge of $3.78, new purchases of $52.23 and $51.67, a payment of $80.00, and a credit of $15.04. What is the new balance?

7. A $100,000 life insurance policy has a premium per $1,000 of $4.12. What is the annual premium?

8. A $350,000 has a premium per $1,000 of $5.92. What is the annual premium?

9. A lease costs $307 a month for 48 months. With a down payment of $1,200, a $105 title fee and a $78 license fee. What is the total cost of the lease over the 4 year period?

10. A new vehicle has a base price is listed at $16,599. Factory-installed options totaling $1,685 and a destination charge of $415. What is the sticker price?

11. A charge account statement showed a previous balance of $113.58, a finance charge of $7.42, new purchases of $21.96 and $45.00, a payment of $60.00, and a credit of $32.99. What is the new balance?

Definitions:

appliance

asset

bankruptcy

carcinogen

cardiologist

class action lawsuit

classic

comfort foods

condominium

consent

deductible

depreciate

durability

fad

fetal alcohol syndrome

futon

infrastructure

inventory

landlord

liable

life insurance

mediation

natural fibers

odometer

prenuptial agreement

renter’s insurance

Special Olympics

synthetic fibers

tenant

travel agent

will

youth hostel

Questions:

  1. What factors affect your nutritional needs?
  1. Name 3 life-threatening eating disorders.
  1. What are the factors that influence why we eat what we eat?
  1. What are the 3 things that will help you make smart entertainment shopping decisions? Know…
  1. Name 5 natural disasters.
  1. Name 5 modes of public transportation.
  1. List the conditions of leasing a car.
  1. According to the text, what is true about owning a motorcycle?
  1. What do lemon laws do?
  1. What types of bedding options are best for limited space? (name 3)
  1. What 3 things should you consider when choosing a roommate?
  1. What are the advantages to renting instead of buying?
  1. How do you check for clothing durability?
  1. What are Dr. Breslow’s 7 bad health habits?
  1. What type of contracts can you sign without legal assistance?
  1. What is an advantage to small claims court?
  1. What can you do to lower your car insurance?
  1. What is covered by car insurance?