Two-year and four-year costs, and a saving plan

Answer Key - Grade 8 Math Worksheet - Challenge Me

Circle the best answer, or write your answer on the line.

1. 1.

   Bo reads a pretend plan: year 1 costs $18,500; each later year costs $600 more. Each year the Ochoa family pays $6,500 and a scholarship pays $4,500. What is left to borrow over 4 years?

   $33,600
2. 2.

   Esme reads a pretend plan: year 1 costs $26,000; each later year costs $1,000 more. Each year the Durand family pays $7,000 and a scholarship pays $9,000. What is left to borrow over 4 years?

   $46,000
3. 3.

   Jun reads a pretend plan: year 1 costs $15,200; each later year costs $400 more. Each year the Singh family pays $4,000 and a scholarship pays $3,200. What is left to borrow over 4 years?

   $34,400
4. 4.

   Kira reads the Quill family's pretend loan: $12,000 at 5% simple interest a year, repaid in equal monthly payments over 5 years. What is each monthly payment?

   $250
5. 5.

   Luz reads the Vance family's pretend loan: $9,000 at 4% simple interest a year, repaid in equal monthly payments over 5 years. What is each monthly payment?

   $180
6. 6.

   Milo reads the Cho family's pretend loan: $18,000 at 6% simple interest a year, repaid in equal monthly payments over 10 years. What is each monthly payment?

   $240
7. 7.

   Noah reads the Sato family's pretend loan: $12,000 at 3% simple interest a year, repaid in equal monthly payments over 10 years. What is each monthly payment?

   $130

8. Read this first

   Pretend yearly costs for the Ward family

   Year	Plan A	Plan B
   1	$11,000	$20,000
   2	$11,400	$20,800
   3	$21,000	$21,600
   4	$21,800	$22,400

9. 8.

   Plan A is two years at a two-year college, then two at a four-year one; Plan B is four years at the four-year one. How much does Pia find Plan A saves in all?

   $19,600

10. Pretend yearly costs for the Imai family

    Year	Plan A	Plan B
    1	$12,500	$21,000
    2	$12,900	$21,700
    3	$22,000	$22,400
    4	$22,600	$23,100

11. 9.

    Plan A is two years at a two-year college, then two at a four-year one; Plan B is four years at the four-year one. How much does Tala find Plan A saves in all?

    $18,200

12. Pretend yearly costs for the Yu family

    Year	Plan A	Plan B
    1	$8,000	$15,000
    2	$8,300	$15,500
    3	$16,000	$16,000
    4	$16,500	$16,800

13. 10.

    Plan A is two years at a two-year college, then two at a four-year one; Plan B is four years at the four-year one. How much does Zee find Plan A saves in all?

    $14,500