Problems 1-2
Be sure you understand the concept of add-on interest and the APR formula.

Problems 3-10
These are estimation problems so they should not be worked with a paper and pencil or with a calculator.

Problems 11-16
See Example 2.

Problems 17-26
See Example 1.

Problems 27-36
See Example 3. Note these are the loans listed in Problems 17-26.

Problems 37-40
See Example 3 of the previous section. For the total amount paid, add the down payment (if any) to the total of the payments. For Problem 37, that is 36 x $317.50.

Problems 41-50
See Example 4.

Note: Homework Hints are given only for the levels 1 and 2 problems. You can also check some sources for homework help on the Internet (see Links, below), or you can call the author at (707) 829-0606 or send an e-mail to: smithkjs@mathnature.com