Interest Rates

Interest Rates

9th Grade - Professional Development

6 Qs

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Interest Rates

Interest Rates

Assessment

Quiz

Other

9th Grade - Professional Development

Practice Problem

Medium

Created by

Danielle Turner

Used 44+ times

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6 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

These institutions offer credit cards.

Institution A's annual percentage rate is 13.74%.

Institution B's annual percentage rate is 11.99%.

Institution C's annual percentage rate is 17.9%.

Which institution would you choose to have a credit card with?

Institution A

Institution B

Institution C

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is an annual percentage rate (APR)?

The yearly rate charged for borrowing funds

The original amount borrowed

The total amount of the principal and interest over the term of the loan.

The tax rate charged on loans.

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Why might someone prefer a fixed rate loan over a variable/adjustable rate loan?

The interest rate fluctuates, but always stays below 5%

The interest rate stays fluctuates, but you can earn money in the long-run.

The interest rate stays the same for 6 months and continually decreases over the life of the loan.

The interest rate never changes so there are no surprises in payment changes.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If you are earning interest, then which type of interest would more likely lead to more earnings?

Simple interest

Compound interest

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which type of interest would you prefer if you are paying interest?

simple

compound

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which type of interest rate is generally considered to be riskier?

fixed

variable

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