A queen-size mattress and box springs set that regularly sells for $1,499 is on sale for$1,349 .10.

What percent of the original price would you save?

La Vernn Johnson had a new 36 square yard wall-to-wall rug installed in her home. The rug cost $15.99 a square yard, the padding cost$3 a square yard, and the rug was installed for $4 a square yard. The sales tax rate is 4.9%, and it is not applied to labor.

What was the cost of the carpeting and padding ?

Otto Schein's credit card company charges an APR of 21 % and applies it to the previous balance . Otto's December statement showed: previous balance, $397.90; new purchases,$341.89; fees, $55; payments,$500; purchase return, $56.99. What is his finance charge for December and new balance?

The October credit card statement for Genaro Rios had a previous balance of $\$ 175.30$, new purchases and fees of $\$ 108.85$, and payments and credits of $\$ 125$ The card's annual percentage rate is $21 \%$ and the previous balance method is used to figure the finance charge. What is Genaro's finance charge for October and new balance?

John Rawlings credit card statement for June 30 showed a previous balance of $248.67 and new purchases of$59.89 on 6/ 10, $15 on 6/ 15,$28.97 on 6/ 17, and a new balance of $352.53 for the month. John found that the slip dated 6/ 10 was for$58.99 and that there was no slip dated 6/ 17. He was certain this purchase was unauthorized by him. What is John 's correct new balance?

Sandra Beal opened a new credit card in January. She paid a membership fee of $\$ 15$ and a balance transfer fee of $5 \%$ when she moved $\$ 823.46$ from her old card to her new card. During the year, she paid these finance charges: February $\$ 3.56$; May, $\$ 5.82$; July, $4.92; and September$\$2.18$. What was the total annual cost of the card to Sandra?

Terry O'Doole has an 18-month installment loan for $1,700 at 12% annual interest. Interest is computed using the Rule of 78. Terry decides to pay back the loan at the end of one month.

What is the total finance charge on the loan?

Levi Stein 's 24-month, Rule of 78 installment loan has a total finance charge of $675. He decides to repay the loan on the day that the twelth payment is due . How much is the unearned finance charge ?

Rachel Carr has a 9-month, Rule of 78 installment loan. The total finance charge for the loan is $450. She decides to repay the loan on the day that the third monthly payment is due. What is the unearned finance charge?

Ann Quinland bought a set of golf clubs on the installment plan for $395. She paid$45 down and the balance in equal monthly installments of $25 each. How many months did it take Ann to pay for the set?

A member of a credit union borrows $920 on a simple interest installment loan at 12% agreeing to repay it in 12 equal monthly payments of$81.74.

What was the amount applied to principal at the end of the first month?

A member of a credit union borrows $920 on a simple interest installment loan at 12% agreeing to repay it in 12 equal monthly payments of$81.74.

What was the total finance charge on the loan?

Use the Annual Percentage Rate table in the textbook to find the APR.

Maria Cruz borrows $\$ 600$ from a loan company. She must repay the loan in $6$ equal installments of $\$104$. a. Find the total amount to be repaid. b. What is the total finance charge on the loan? c. What is the finance charge per $\$ 100$ of the amount financed? d. What is the annual percentage rate?

Find the monthly interest payment, amount applied to principal, and new balance for the first month for each simple interest installment loan.

$$\begin{array}{llll} \ { \begin{array}{l} \text { Amount } \\ \text { Financed } \end{array}} & \begin{array}{l} \text { Number of } \\ \text { Payments } \end{array} & \begin{array}{l} \text { Monthly } \\ \text { Payment } \end{array} & \begin{array}{l} \text { Annual Interest } \\ \text { Rate } \end{array} \\ \text { } \$ 500 & 6 & \$ 87.02 & 15 \% \\ \end{array}$$