Web Application Chapter 11 page 461

In a previous Web Application with the keyword "installment" Janet Spinella purchased a new truck. Use information from that Web Application to answer the following questions:

1. What portion of the first monthly truck payment went towards interest?
Use the simple interest formula I = PRT
Note: Use the monthly payment that was calculated in the Web Application with the keyword "installment."

2. What is the remaining balance after the first payment?

Janet is pleased with her truck purchase but would like to know whether she can find some discounted rates on her truck insurance. Starting at www.quicken.com, enter a ZIP code in the car insurance field and continue to the following page.

3. Name the seven possible discounts listed on the sample insurance policy.

Include the date of the information in your answer.

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