
Loans & Interest Vocab
Authored by Shannon Gwosch
12th Grade
Used 21+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The length of time you have to pay off the loan, with interest.
Loan Term
Capital
Interest
Cosigner
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
APR stands for
Annual Percentage Rate
Annual Person Rate
Annual Heart Rate
Arithmetic Hating People
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which Credit Card will you spend more on in interest long term?
Credit Card #1: Intro Rate 1% (for one year), Purchase Rate 24%
Credit Card #2: Intro Rate 0% (for one year), Purchase Rate 33%
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The total amount of what it costs you to use credit in a given year; it is expressed as a percentage of the amount borrowed.
Loan Term
Rate
APR
ART
5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
You may need a cosigner if….(click all that apply)
You don’t meet the minimum income requirements
You have no established credit.
You have bad credit.
You are self-employed.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A loan in which the interest rate will stay the same for the entire loan term.
Variable Rate Loan
Fixed Rate Loan
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A loan that is issued and supported only by the borrower’s creditworthiness, rather than by collateral. Usually offered at higher interest rates and have lower borrowing amounts than secured loans.
Unsecured Loan
Secured Loan
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