Personal Finance Quiz 1(Review)

Mike and Aria went out to eat at Evviva in Lisle. The bill for the two of them was $28.56. The server did a good job and therefore Mike and Aria decide to leave a 15% tip. Approximately how much tip should they leave?

• $10.00

• $20.00

• $15.00

• $5.00

What is a credit card?

• a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.

• A card that has a set balance that you can only use at one place.

• A card with the money from your checking account.

Annual Percentage Rate (APR) is the yearly percentage rate of the interest charged.

• True

• False

What does APR stand for?

• Annual purchase rate
• Annual percentage rate
• Approximate payment rotation
• Authorization processing rate

Tags

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.9-10.4

CCSS.RI.8.4

CCSS.RI.7.4

Emily charges $60 to her Mastercard with a 26% APR. How much will she owe (charges + interest) at the end of the first month if she does not pay off the entire balance?

• $72.60

• $61.30

• $55.90

• $156.00

Daven put $800 into a savings account that pays 2% annual interest. How much will be in the account after 6 months?

• $808

• $816

• $16

• $8

What is the APR for a credit card that charges 3% monthly interest?

Favorite place to shop?

• Walmart

• Target

• The mall

• Other

• I don't shop!

Evaluate. $2z-3\left(x+1\right)\ for\ \ x=-2\ and\ z\ =\ \frac{1}{2}$  

The least amount that must be paid on a credit card each month is

• Late Fee
• Credit Limit
• Payment amount
• Minimum Payment

Tags

CCSS.HSA.SSE.A.1