"Debt" BrainPop Quizizz

You borrow $50 at 10 percent yearly interest. How much do you have to pay back the lender after one year?

• $50

• $55

• $60

• $75

Adit is $200 in debt to Will. In other words:

• Will borrowed $200 from Adit

• Will owes $200 to Adit

• Adit just paid Will $200

• Adit owes Will $200

Which of the following would most likely be found in your credit history?

• The amount of money you have in the bank

• Your annual income from your job

• The number of credit cards you currently owe money on

Dylan borrowed money from Grayson and defaulted on the loan. That means:

• Dylan told Grayson that he would not pay him back

• Dylan paid Grayson back in small monthly increments

• Dylan doubled the money he borrowed to pay back Grayson

You take out a student loan to pay for law school. What's the most likely point at which the loan will be fully paid off?

• Immediately after graduation

• One year after graduation

• After you have practiced law for a number of years

• After you retire at age 65

What slogan might a credit card company use to get you to use its services?

• "Buy Now, Pay Later"

• "We offer the highest interest rate in the country"

• "Our card doesn't work anywhere!"

• "Save Now, Buy Later"

True or False: Credit card companies offer young people their first credit cards because they are low risk and have high credit scores

• True

• False

If you buy a U.S. savings bond:

• the Government is borrowing money from you

• You are borrowing money from the government

The national debt will ultimately have to be repaid by:

• The President of the United States

• Banks and Credit Card Lenders

• Taxpayers