Financial Literacy-6th

Front

(6.14C) Options: $175.25, $25.25, $632.65, $482.65

Back

$175.25

Front

Difference in lifetime income over 30 years for 2-year vocational training ($52,000) vs. graduate degree ($76,000)?

Back

$720,000

Front

Julio paid $35.92 for gasoline with his debit card. Which of the following is an accurate description of Julio's transaction? Options: Julio's payment will affect his credit rating., Julio might be charged interest for his purchase., Julio's linked account will immediately have #35.92 removed., Julio will make payment for his purchase when he receives his monthly statement.

Back

Julio's linked account will immediately have #35.92 removed.

Front

Why is it important to establish positive credit history?

Back

All of the above: Higher credit scores result in lower interest rates on loans, positive credit history results in higher credit scores, and you are more likely to be offered a loan by a bank.

Front

How long will a negative credit action usually remain on a credit report? Options: 4 years, 7 years, 10 years, 15 years

Back

7 years

Front

Which of the following reasons for selecting a bank is valid?

Back

Madison should select Bank A because her overall monthly cost will be $1.50 less than Bank B.

Front

Which of the following accurately describes one benefit gained by financial institutions from a credit report?

Back

Provides a detailed report of a borrower's financial history.

Front

Methods to pay for college that do not require repayment: student loans and work-study, scholarships, student loans, and savings, savings, scholarships, and grants, grants, scholarships, and student loans

Back

savings, scholarships, and grants

Front

Jared's family saves $500 per month for his college education. How much will they have saved by the end of his 18th year?

Back

$108,000

Front

Carlos had an original balance of $418.77 in his checking account. He then wrote one check for $199.81. Which check amount below would cause an overdraft of his account after writing the check for $199.81? Options: $199.81, $218.96, $209.91, $219.75

Back

$219.75