Printable worksheet

← Back to the RV Loan Calculator

In the print window, choose “Save as PDF” as the printer (or print it on paper). Seed 1 rebuilds this exact sheet.

RV Loan worksheet

Grades 11–12 · CCSS HSA.SSE.B.4

Solve each problem and show your work. Round answers to 2 decimal places where needed.

1.
Problem 1.
- RV price: $125,000
- Down payment: $20,000
- Trade-in value: $8,500
- Sales tax rate: 6%
- Sales tax is charged on: The price minus the trade-in
- Sales tax is: Rolled into the loan
- Interest rate (APR): 8%
- Loan term: 10 years
- Nights camping per year: 46
- Campground fee per night: $45
- Storage per month: $120
- Insurance per year: $1,425
Find: Monthly payment
Answer
2.
Problem 2.
- RV price: $80,000
- Down payment: $12,000
- Trade-in value: $12,000
- Sales tax rate: 7%
- Sales tax is charged on: The full price
- Sales tax is: Rolled into the loan
- Interest rate (APR): 12%
- Loan term: 20 years
- Nights camping per year: 34
- Campground fee per night: $60
- Storage per month: $140
- Insurance per year: $1,225
Find: Monthly payment
Answer
3.
Problem 3.
- RV price: $97,500
- Down payment: $21,000
- Trade-in value: $10,000
- Sales tax rate: 7%
- Sales tax is charged on: The full price
- Sales tax is: Rolled into the loan
- Interest rate (APR): 5.5%
- Loan term: 15 years
- Nights camping per year: 35
- Campground fee per night: $55
- Storage per month: $106
- Insurance per year: $1,500
Find: Monthly payment
Answer
4.
Problem 4.
- RV price: $125,000
- Down payment: $13,000
- Trade-in value: $10,000
- Sales tax rate: 9%
- Sales tax is charged on: The full price
- Sales tax is: Rolled into the loan
- Interest rate (APR): 6.5%
- Loan term: 20 years
- Nights camping per year: 39
- Campground fee per night: $40
- Storage per month: $120
- Insurance per year: $1,250
Find: Monthly payment
Answer
5.
Problem 5.
- RV price: $95,000
- Down payment: $17,000
- Trade-in value: $12,000
- Sales tax rate: 6%
- Sales tax is charged on: The full price
- Sales tax is: Paid up front
- Interest rate (APR): 9%
- Loan term: 10 years
- Nights camping per year: 42
- Campground fee per night: $45
- Storage per month: $75
- Insurance per year: $1,000
Find: Monthly payment
Answer
6.
Problem 6.
- RV price: $110,000
- Down payment: $15,500
- Trade-in value: $9,000
- Sales tax rate: 9%
- Sales tax is charged on: The full price
- Sales tax is: Rolled into the loan
- Interest rate (APR): 7%
- Loan term: 15 years
- Nights camping per year: 29
- Campground fee per night: $50
- Storage per month: $165
- Insurance per year: $1,400
Find: Monthly payment
Answer
7.
Problem 7.
- RV price: $60,000
- Down payment: $14,500
- Trade-in value: $12,000
- Sales tax rate: 6%
- Sales tax is charged on: The price minus the trade-in
- Sales tax is: Paid up front
- Interest rate (APR): 9%
- Loan term: 15 years
- Nights camping per year: 44
- Campground fee per night: $60
- Storage per month: $115
- Insurance per year: $1,300
Find: Monthly payment
Answer
8.
Problem 8.
- RV price: $86,000
- Down payment: $20,000
- Trade-in value: $8,800
- Sales tax rate: 8%
- Sales tax is charged on: The price minus the trade-in
- Sales tax is: Rolled into the loan
- Interest rate (APR): 10%
- Loan term: 15 years
- Nights camping per year: 52
- Campground fee per night: $48
- Storage per month: $160
- Insurance per year: $1,100
Find: Monthly payment
Answer
9.
Problem 9.
- RV price: $75,000
- Down payment: $16,750
- Trade-in value: $7,000
- Sales tax rate: 7%
- Sales tax is charged on: The price minus the trade-in
- Sales tax is: Paid up front
- Interest rate (APR): 10%
- Loan term: 10 years
- Nights camping per year: 45
- Campground fee per night: $50
- Storage per month: $155
- Insurance per year: $1,175
Find: Monthly payment
Answer
10.
Problem 10.
- RV price: $90,000
- Down payment: $18,000
- Trade-in value: $11,000
- Sales tax rate: 6%
- Sales tax is charged on: The full price
- Sales tax is: Paid up front
- Interest rate (APR): 6.25%
- Loan term: 12 years
- Nights camping per year: 32
- Campground fee per night: $40
- Storage per month: $90
- Insurance per year: $1,100
Find: Monthly payment
Answer

Answer key: RV Loan worksheet

1. Monthly payment: $1,255.62
1. Find the sales tax. Here it's charged on the price minus your trade-in
  $($125,000.00 - $8,500.00) \times 6%$ $= $6,990.00$
2. Find how much you borrow: the price, minus your down payment and trade-in, plus the tax
  $$125,000.00 - $20,000.00 - $8,500.00 + $6,990.00$ $= $103,490.00$
3. Divide the yearly rate by 12 to get the monthly rate, because interest is charged every month
  $i$ $= \frac{0.08}{12}$ $= 0.00666667$
4. Find the monthly payment. A standard formula gives the one amount that pays off the loan, with interest, in 120 months
  $\frac{$103,490.00 \times 0.00666667}{1 - {(1 + 0.00666667)}^{−120}}$ $= $1,255.62$
5. Find the total interest: all your payments added up, minus what you borrowed
  $$1,255.62 \times 120 - $103,490.00$ $= $47,184.31$
6. Find the total cost of the RV: the price, the tax and the interest
  $$125,000.00 + $6,990.00 + $47,184.31$ $= $179,174.31$
7. Find your yearly campground fees: nights away times the fee per night
  $46 \times $45.00$ $= $2,070.00$
8. Find your yearly storage cost: the monthly fee times 12
  $$120.00 \times 12$ $= $1,440.00$
9. Add camping, storage and insurance to get your yearly costs
  $$2,070.00 + $1,440.00 + $1,425.00$ $= $4,935.00$
10. Add a year of loan payments to see the full yearly cost
  $$1,255.62 \times 12 + $4,935.00$ $= $20,002.43$
11. Divide the full yearly cost by your nights away to see what each night really costs
  $\frac{$20,002.43}{46}$ $= $434.84$
2. Monthly payment: $678.27
1. Find the sales tax. Here it's charged on the full price of the RV
  $$80,000.00 \times 7%$ $= $5,600.00$
2. Find how much you borrow: the price, minus your down payment and trade-in, plus the tax
  $$80,000.00 - $12,000.00 - $12,000.00 + $5,600.00$ $= $61,600.00$
3. Divide the yearly rate by 12 to get the monthly rate, because interest is charged every month
  $i$ $= \frac{0.12}{12}$ $= 0.01$
4. Find the monthly payment. A standard formula gives the one amount that pays off the loan, with interest, in 240 months
  $\frac{$61,600.00 \times 0.01}{1 - {(1 + 0.01)}^{−240}}$ $= $678.27$
5. Find the total interest: all your payments added up, minus what you borrowed
  $$678.27 \times 240 - $61,600.00$ $= $101,184.57$
6. Find the total cost of the RV: the price, the tax and the interest
  $$80,000.00 + $5,600.00 + $101,184.57$ $= $186,784.57$
7. Find your yearly campground fees: nights away times the fee per night
  $34 \times $60.00$ $= $2,040.00$
8. Find your yearly storage cost: the monthly fee times 12
  $$140.00 \times 12$ $= $1,680.00$
9. Add camping, storage and insurance to get your yearly costs
  $$2,040.00 + $1,680.00 + $1,225.00$ $= $4,945.00$
10. Add a year of loan payments to see the full yearly cost
  $$678.27 \times 12 + $4,945.00$ $= $13,084.23$
11. Divide the full yearly cost by your nights away to see what each night really costs
  $\frac{$13,084.23}{34}$ $= $384.83$
3. Monthly payment: $599.13
1. Find the sales tax. Here it's charged on the full price of the RV
  $$97,500.00 \times 7%$ $= $6,825.00$
2. Find how much you borrow: the price, minus your down payment and trade-in, plus the tax
  $$97,500.00 - $21,000.00 - $10,000.00 + $6,825.00$ $= $73,325.00$
3. Divide the yearly rate by 12 to get the monthly rate, because interest is charged every month
  $i$ $= \frac{0.055}{12}$ $= 0.00458333$
4. Find the monthly payment. A standard formula gives the one amount that pays off the loan, with interest, in 180 months
  $\frac{$73,325.00 \times 0.00458333}{1 - {(1 + 0.00458333)}^{−180}}$ $= $599.13$
5. Find the total interest: all your payments added up, minus what you borrowed
  $$599.13 \times 180 - $73,325.00$ $= $34,517.76$
6. Find the total cost of the RV: the price, the tax and the interest
  $$97,500.00 + $6,825.00 + $34,517.76$ $= $138,842.76$
7. Find your yearly campground fees: nights away times the fee per night
  $35 \times $55.00$ $= $1,925.00$
8. Find your yearly storage cost: the monthly fee times 12
  $$106.00 \times 12$ $= $1,272.00$
9. Add camping, storage and insurance to get your yearly costs
  $$1,925.00 + $1,272.00 + $1,500.00$ $= $4,697.00$
10. Add a year of loan payments to see the full yearly cost
  $$599.13 \times 12 + $4,697.00$ $= $11,886.52$
11. Divide the full yearly cost by your nights away to see what each night really costs
  $\frac{$11,886.52}{35}$ $= $339.61$
4. Monthly payment: $844.36
1. Find the sales tax. Here it's charged on the full price of the RV
  $$125,000.00 \times 9%$ $= $11,250.00$
2. Find how much you borrow: the price, minus your down payment and trade-in, plus the tax
  $$125,000.00 - $13,000.00 - $10,000.00 + $11,250.00$ $= $113,250.00$
3. Divide the yearly rate by 12 to get the monthly rate, because interest is charged every month
  $i$ $= \frac{0.065}{12}$ $= 0.00541667$
4. Find the monthly payment. A standard formula gives the one amount that pays off the loan, with interest, in 240 months
  $\frac{$113,250.00 \times 0.00541667}{1 - {(1 + 0.00541667)}^{−240}}$ $= $844.36$
5. Find the total interest: all your payments added up, minus what you borrowed
  $$844.36 \times 240 - $113,250.00$ $= $89,396.78$
6. Find the total cost of the RV: the price, the tax and the interest
  $$125,000.00 + $11,250.00 + $89,396.78$ $= $225,646.78$
7. Find your yearly campground fees: nights away times the fee per night
  $39 \times $40.00$ $= $1,560.00$
8. Find your yearly storage cost: the monthly fee times 12
  $$120.00 \times 12$ $= $1,440.00$
9. Add camping, storage and insurance to get your yearly costs
  $$1,560.00 + $1,440.00 + $1,250.00$ $= $4,250.00$
10. Add a year of loan payments to see the full yearly cost
  $$844.36 \times 12 + $4,250.00$ $= $14,382.34$
11. Divide the full yearly cost by your nights away to see what each night really costs
  $\frac{$14,382.34}{39}$ $= $368.78$
5. Monthly payment: $836.06
1. Find the sales tax. Here it's charged on the full price of the RV
  $$95,000.00 \times 6%$ $= $5,700.00$
2. Find how much you borrow: the price, minus your down payment and trade-in. You pay the tax up front
  $$95,000.00 - $17,000.00 - $12,000.00$ $= $66,000.00$
3. Divide the yearly rate by 12 to get the monthly rate, because interest is charged every month
  $i$ $= \frac{0.09}{12}$ $= 0.0075$
4. Find the monthly payment. A standard formula gives the one amount that pays off the loan, with interest, in 120 months
  $\frac{$66,000.00 \times 0.0075}{1 - {(1 + 0.0075)}^{−120}}$ $= $836.06$
5. Find the total interest: all your payments added up, minus what you borrowed
  $$836.06 \times 120 - $66,000.00$ $= $34,327.21$
6. Find the total cost of the RV: the price, the tax and the interest
  $$95,000.00 + $5,700.00 + $34,327.21$ $= $135,027.21$
7. Find your yearly campground fees: nights away times the fee per night
  $42 \times $45.00$ $= $1,890.00$
8. Find your yearly storage cost: the monthly fee times 12
  $$75.00 \times 12$ $= $900.00$
9. Add camping, storage and insurance to get your yearly costs
  $$1,890.00 + $900.00 + $1,000.00$ $= $3,790.00$
10. Add a year of loan payments to see the full yearly cost
  $$836.06 \times 12 + $3,790.00$ $= $13,822.72$
11. Divide the full yearly cost by your nights away to see what each night really costs
  $\frac{$13,822.72}{42}$ $= $329.11$
6. Monthly payment: $857.48
1. Find the sales tax. Here it's charged on the full price of the RV
  $$110,000.00 \times 9%$ $= $9,900.00$
2. Find how much you borrow: the price, minus your down payment and trade-in, plus the tax
  $$110,000.00 - $15,500.00 - $9,000.00 + $9,900.00$ $= $95,400.00$
3. Divide the yearly rate by 12 to get the monthly rate, because interest is charged every month
  $i$ $= \frac{0.07}{12}$ $= 0.00583333$
4. Find the monthly payment. A standard formula gives the one amount that pays off the loan, with interest, in 180 months
  $\frac{$95,400.00 \times 0.00583333}{1 - {(1 + 0.00583333)}^{−180}}$ $= $857.48$
5. Find the total interest: all your payments added up, minus what you borrowed
  $$857.48 \times 180 - $95,400.00$ $= $58,946.79$
6. Find the total cost of the RV: the price, the tax and the interest
  $$110,000.00 + $9,900.00 + $58,946.79$ $= $178,846.79$
7. Find your yearly campground fees: nights away times the fee per night
  $29 \times $50.00$ $= $1,450.00$
8. Find your yearly storage cost: the monthly fee times 12
  $$165.00 \times 12$ $= $1,980.00$
9. Add camping, storage and insurance to get your yearly costs
  $$1,450.00 + $1,980.00 + $1,400.00$ $= $4,830.00$
10. Add a year of loan payments to see the full yearly cost
  $$857.48 \times 12 + $4,830.00$ $= $15,119.79$
11. Divide the full yearly cost by your nights away to see what each night really costs
  $\frac{$15,119.79}{29}$ $= $521.37$
7. Monthly payment: $339.78
1. Find the sales tax. Here it's charged on the price minus your trade-in
  $($60,000.00 - $12,000.00) \times 6%$ $= $2,880.00$
2. Find how much you borrow: the price, minus your down payment and trade-in. You pay the tax up front
  $$60,000.00 - $14,500.00 - $12,000.00$ $= $33,500.00$
3. Divide the yearly rate by 12 to get the monthly rate, because interest is charged every month
  $i$ $= \frac{0.09}{12}$ $= 0.0075$
4. Find the monthly payment. A standard formula gives the one amount that pays off the loan, with interest, in 180 months
  $\frac{$33,500.00 \times 0.0075}{1 - {(1 + 0.0075)}^{−180}}$ $= $339.78$
5. Find the total interest: all your payments added up, minus what you borrowed
  $$339.78 \times 180 - $33,500.00$ $= $27,660.28$
6. Find the total cost of the RV: the price, the tax and the interest
  $$60,000.00 + $2,880.00 + $27,660.28$ $= $90,540.28$
7. Find your yearly campground fees: nights away times the fee per night
  $44 \times $60.00$ $= $2,640.00$
8. Find your yearly storage cost: the monthly fee times 12
  $$115.00 \times 12$ $= $1,380.00$
9. Add camping, storage and insurance to get your yearly costs
  $$2,640.00 + $1,380.00 + $1,300.00$ $= $5,320.00$
10. Add a year of loan payments to see the full yearly cost
  $$339.78 \times 12 + $5,320.00$ $= $9,397.35$
11. Divide the full yearly cost by your nights away to see what each night really costs
  $\frac{$9,397.35}{44}$ $= $213.58$
8. Monthly payment: $681.04
1. Find the sales tax. Here it's charged on the price minus your trade-in
  $($86,000.00 - $8,800.00) \times 8%$ $= $6,176.00$
2. Find how much you borrow: the price, minus your down payment and trade-in, plus the tax
  $$86,000.00 - $20,000.00 - $8,800.00 + $6,176.00$ $= $63,376.00$
3. Divide the yearly rate by 12 to get the monthly rate, because interest is charged every month
  $i$ $= \frac{0.1}{12}$ $= 0.00833333$
4. Find the monthly payment. A standard formula gives the one amount that pays off the loan, with interest, in 180 months
  $\frac{$63,376.00 \times 0.00833333}{1 - {(1 + 0.00833333)}^{−180}}$ $= $681.04$
5. Find the total interest: all your payments added up, minus what you borrowed
  $$681.04 \times 180 - $63,376.00$ $= $59,211.51$
6. Find the total cost of the RV: the price, the tax and the interest
  $$86,000.00 + $6,176.00 + $59,211.51$ $= $151,387.51$
7. Find your yearly campground fees: nights away times the fee per night
  $52 \times $48.00$ $= $2,496.00$
8. Find your yearly storage cost: the monthly fee times 12
  $$160.00 \times 12$ $= $1,920.00$
9. Add camping, storage and insurance to get your yearly costs
  $$2,496.00 + $1,920.00 + $1,100.00$ $= $5,516.00$
10. Add a year of loan payments to see the full yearly cost
  $$681.04 \times 12 + $5,516.00$ $= $13,688.50$
11. Divide the full yearly cost by your nights away to see what each night really costs
  $\frac{$13,688.50}{52}$ $= $263.24$
9. Monthly payment: $677.27
1. Find the sales tax. Here it's charged on the price minus your trade-in
  $($75,000.00 - $7,000.00) \times 7%$ $= $4,760.00$
2. Find how much you borrow: the price, minus your down payment and trade-in. You pay the tax up front
  $$75,000.00 - $16,750.00 - $7,000.00$ $= $51,250.00$
3. Divide the yearly rate by 12 to get the monthly rate, because interest is charged every month
  $i$ $= \frac{0.1}{12}$ $= 0.00833333$
4. Find the monthly payment. A standard formula gives the one amount that pays off the loan, with interest, in 120 months
  $\frac{$51,250.00 \times 0.00833333}{1 - {(1 + 0.00833333)}^{−120}}$ $= $677.27$
5. Find the total interest: all your payments added up, minus what you borrowed
  $$677.27 \times 120 - $51,250.00$ $= $30,022.70$
6. Find the total cost of the RV: the price, the tax and the interest
  $$75,000.00 + $4,760.00 + $30,022.70$ $= $109,782.70$
7. Find your yearly campground fees: nights away times the fee per night
  $45 \times $50.00$ $= $2,250.00$
8. Find your yearly storage cost: the monthly fee times 12
  $$155.00 \times 12$ $= $1,860.00$
9. Add camping, storage and insurance to get your yearly costs
  $$2,250.00 + $1,860.00 + $1,175.00$ $= $5,285.00$
10. Add a year of loan payments to see the full yearly cost
  $$677.27 \times 12 + $5,285.00$ $= $13,412.27$
11. Divide the full yearly cost by your nights away to see what each night really costs
  $\frac{$13,412.27}{45}$ $= $298.05$
10. Monthly payment: $603.19
1. Find the sales tax. Here it's charged on the full price of the RV
  $$90,000.00 \times 6%$ $= $5,400.00$
2. Find how much you borrow: the price, minus your down payment and trade-in. You pay the tax up front
  $$90,000.00 - $18,000.00 - $11,000.00$ $= $61,000.00$
3. Divide the yearly rate by 12 to get the monthly rate, because interest is charged every month
  $i$ $= \frac{0.0625}{12}$ $= 0.00520833$
4. Find the monthly payment. A standard formula gives the one amount that pays off the loan, with interest, in 144 months
  $\frac{$61,000.00 \times 0.00520833}{1 - {(1 + 0.00520833)}^{−144}}$ $= $603.19$
5. Find the total interest: all your payments added up, minus what you borrowed
  $$603.19 \times 144 - $61,000.00$ $= $25,859.42$
6. Find the total cost of the RV: the price, the tax and the interest
  $$90,000.00 + $5,400.00 + $25,859.42$ $= $121,259.42$
7. Find your yearly campground fees: nights away times the fee per night
  $32 \times $40.00$ $= $1,280.00$
8. Find your yearly storage cost: the monthly fee times 12
  $$90.00 \times 12$ $= $1,080.00$
9. Add camping, storage and insurance to get your yearly costs
  $$1,280.00 + $1,080.00 + $1,100.00$ $= $3,460.00$
10. Add a year of loan payments to see the full yearly cost
  $$603.19 \times 12 + $3,460.00$ $= $10,698.29$
11. Divide the full yearly cost by your nights away to see what each night really costs
  $\frac{$10,698.29}{32}$ $= $334.32$