8
QuizMultiple Choice

Simple Contracts

Question 8 • HS BCS Advanced Financial Algebra 25-26

Cindy is buying a car from Robert for $4,500. Robert has agreed to accept a down payment of $500 and 16 consecutive monthly payments of $250 from Cindy to pay the car off. In agreement, Cindy writes up the following contract: “I agree to pay Robert a down payment of $500 in addition to 16 payments of $225 in exchange for this car.” Robert does not sign the contract, saying there are mistakes Cindy should correct. Which of the following is not a correction Cindy should make?? a. Cindy needs to change the monthly payment amount to $250 as agreed. b. Cindy needs to include the word “monthly” to describe the frequency of her payment. c. Cindy needs to change the number of payments to 17 to include the down payment. d. Cindy needs to include Robert’s last name and her full name. Please select the best answer from the choices provided

Answer
A
A
B
B
C
C
D
D
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