Consumer Responsibilities Answers

While out shopping for new clothes, Xaoting sees a sign for cozy socks advertised on sale for $3.50 per pair. The regular price of the socks is $5 per pair. Xaoting buys 3 pairs and notices that the socks do not ring up at the advertised sale price, so she has the cashier do a price check. If the sales tax is 8%, how much does Xaoting save by paying attention at the register?

Describe the key things that set predatory lenders apart from other lenders.

A consumer charges a $46.92 purchase on a credit card. The card has a daily interest rate of 0.039%. If the consumer pays off the balance at the end of 30 days, how much in interest will be paid for the purchase?

Kaleb wants to get a payday loan in the amount of $375. He knows that the annual percentage rates (APR) for these types of loans are high, but he is hoping to find one that has an APR of 40%. If Kaleb finds a business that charges a fee of $37 for the loan, what would the term of the loan need to be in order for Kaleb to get his desired APR?

List 3 responsibilities that a consumer has when making a purchase.

Priscilla decides to order a delivery from the local sandwich shop. Her order comes to $12.74 and there is a $2.30 delivery charge. When the food is delivered, Priscilla adds on to her receipt a charge of 15% of her total, not including the delivery charge, as a tip for the driver. When Priscilla goes to check her debits on her online bank statement, what amount should she expect as her total debit?

Verona goes to a business that offers tax refund anticipation loans because she really wants to get her money right now and not wait. They calculate her refund to be $985 and charge her $130 in fees for the loan. If the term on her loan is 15 days, what is the annual percentage rate on her loan?

Based on a $400 loan amount, rank the following companies from the lowest to highest annual percentage rate (APR).CompanyFees ChargedTerm of LoanA$405 daysB$5012 daysC$8015 daysD$10020 days

Shakira has a balance of $202.86 in her checking account on Saturday morning. She uses her debit card to pay her cell phone bill of $80.73 over the phone. She then picks up her dry cleaning, dog food at the pet store and groceries for debits of $16.89, $35.24, and $113.92. Shakira’s bank uses a balance system of deducting highest transactions first. The bank will not return amounts up to a total of $50 in overdrafts, but they do charge a fee for each overdraft. How many overdraft fees will Shakira incur?

Sampson has a list of items that are on sale to pick up at the store. The sale items are the following: Ice cream – $1.89 Sweet corn – 3 for $1 Bananas – $0.49 per pound Sampson buys 1 carton of ice cream, 4 ears of corn, and 2.5 pounds of bananas. His receipt is shown below. Swt corn 2@3/$1 $0.67 Bananas 2.5 lb@0.49 $1.23 Ice crm 1@2.49 $2.49 Store discount for ice crm $0.60 -$0.60 Swt corn 2@3/$1 $0.67 Determine if Sampson's receipt is correct.