Search Header Logo

College Readiness Lesson 8.6

Authored by Brad Avans

10th - 12th Grade

CCSS covered

Used 1+ times

College Readiness Lesson 8.6
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amortization payment is made up of what two parts?

Interest and Principal
Interest and Payment Amount
Payment amount and Principal
Percent and Interest

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Amortization is the paying off of debt with a ____________________ repayment schedule in regular installments over a period of time for example with a mortgage or a car loan.

fixed

variable

differentiated

fluctuating

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A portion of each payment is for interest while the remaining amount is applied towards the __________________________ balance.

principal

interest

interest rate

loan term

Tags

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Initially, a large portion of each payment is devoted to __________________________.

interest

the principal balance

loan term

interest rate

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

If you have an amortized loan, your monthly payment will be______________________________.

always the same

always different

sometimes the same

never the same

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Determine the monthly amortization payments of the 30 year loan amount of $240,000 at a interest rate of 4.2%.

$1,173.64
$670.89
$333.64
$10,080

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Dr. Drake is thinking about retirement and decides to sail around the world once he retires. He buys a sailboat for $150,000. He borrows the money at an APR of 7.5% for five years. What will his monthly payment be?

$20.04
$100.20
$3,008
$750

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?