CH 9 Take Home Quiz - Personal Finance PDF

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Name: __________________________________ Period: ______

Date: ________________

Personal Finance Chapter 9: Take Home Quiz

1. The Jordans are shopping for a new vehicle. They are pricing a 4-door sedan. The base price is listed at $19,500. Factory-installed options total $1,395. The destination charge is $385. What is the sticker price? A)

$17,720.00

B)

$19,885.00

C)

$20,895.00

D)

$21,280.00

2. Fred and Mary Merrill want to purchase a new car. The car has a base price of $16,700, options totaling $1,095, and a destination charge of $325. They read in a consumer magazine that the dealer's cost for the car is 90 percent of the base price and 87 percent of the options price. What should they estimate as the dealer's cost? A)

$15,764.40

B)

$15,806.65

C)

$16,275.15

D)

$16,307.65

3. Victoria Davis would like to purchase the 1999 Luxury Sedan detailed below, which is advertised for $19,000. It has low mileage, a theft recovery system, a CD player, and leather seats. What average retail price should Davis keep in mind when she makes an offer for the vehicle? A)

$19,200.00

B)

$18,375.00

C)

$16,700.00

D)

$15,875.00

4. Eileen Dressel pays $272.40 for 100/300 bodily injury limits and $100,000 property damage limits. She also pays $59.20 for $50-deductible comprehensive insurance and $194.40 for $50-deductible collision insurance. What is her annual base premium? A)

$526.00

B)

$663.20

C)

$933.60

D)

$1,052.00

5. Yan Li purchased a used vehicle for $6,500 one year ago. He drove 12,000 miles during the year and kept a record of all his expenses. The variable costs totaled $1,972.50, and the fixed costs totaled $2,476.25. What was the cost per mile for Li to operate his vehicle last year? A)

$0.16

B)

$0.20

C)

$0.37

D)

$2.70

6. Jennifer Hill leased a car for use in her real estate sales business. She pays $249 a month for 48 months. Her deposit was $2,500. She paid a $95 title fee and a $56 license fee. What is her total lease cost? A)

$9,997.00

B)

$14,603.00

C)

$17,103.00

D)

$21,700.00

7. Ruth Barr rented a car for 5 days at $59.95 per day with unlimited mileage. She drove 1,156 miles and paid $69.84 for gasoline. What was the total cost per mile to rent the car? A)

$0.11

B)

$0.32

C)

$3.13

D)

$8.91

8. The Heltons are shopping for a new vehicle. They are pricing a minivan. The base price is listed at $24,900. Factory-installed options total $1,645. The destination charge is $385. What is the sticker price? A)

$26,930.00

B)

$28,540.00

C)

$30,185.00

D)

$45,200.00

9. David Benjamin leased a car for use in his marketing survey business. He pays $329 a month for 48 months. His deposit was $3,500. He paid a $105 title fee and a $78 license fee. What is his total lease cost? A)

$15,792.00

B)

$15,975.00

C)

$19,292.00

D)

$19,475.00

10. The Hoyts rented a car for one week at $379 with unlimited mileage. They drove 1,562 miles and paid $106.50 for gasoline. What was the total cost per mile to rent the car? A)

$0.31

B)

$0.57

C)

$1.77

D)

$3.22...