Ways to pay, and the costs and benefits of a choice

Answer Key - Grade 8 Math Worksheet

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

1. 1.

   Mr. Grove buys a $600 couch on a pretend credit card and pays late. The card adds 2% compound interest for the month and a $25 late fee. What does Ari find is owed?

   $637
2. 2.

   Ms. Shaw buys a $350 guitar on a pretend credit card and pays late. The card adds 2% compound interest for the month and a $30 late fee. What does Bo find is owed?

   $387
3. 3.

   Mr. Lane buys an $800 bed on a pretend credit card and pays late. The card adds 1.5% compound interest for the month and a $35 late fee. What does Esme find is owed?

   $847
4. 4.

   Ms. Reyes buys a $250 printer on a pretend credit card and pays late. The card adds 2% compound interest for the month and a $20 late fee. What does Jun find is owed?

   $275
5. 5.

   Mr. Dunn buys a $480 TV on a pretend pay-later plan: 4 payments of $125. One payment is late, adding a $15 fee. How much more than $480 does Kira find was paid?

   $35
6. 6.

   Ms. Hale buys a $300 bike on a pretend pay-later plan: 6 payments of $52. One payment is late, adding a $10 fee. How much more than $300 does Luz find was paid?

   $22
7. 7.

   Mr. Cole buys a $200 tent on a pretend pay-later plan: 4 payments of $52. One payment is late, adding a $12 fee. How much more than $200 does Milo find was paid?

   $20
8. 8.

   Ms. Frost buys a $1,200 piano on a pretend pay-later plan: 12 payments of $104. One payment is late, adding a $25 fee. How much more than $1,200 does Noah find was paid?

   $73
9. 9.

   A pretend shop sells a $700 couch: 2% off for cash, or a 3% fee for a card. How much more does Pia find Mr. Grove pays by card than with cash?

   $35
10. 10.

    Zee reads Ms. Reyes's pretend card bill: $300 is due. Ms. Reyes can pay all $300 now, or pay $50 now and carry $250 for a month at 2% compound interest. Which costs less?

    • Pay $50 now and carry $250
    • Pay all $300 now
    • Both cost the same