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Mean Jeans Unit 6 Test

Authored by Clara Wehmeyer

Business

9th - 12th Grade

Used 2+ times

Mean Jeans  Unit 6 Test
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15 questions

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1.

FILL IN THE BLANK QUESTION

15 mins • 1 pt

What is the monthly interest for a mortgage whose principal is $2,500 at a 6% rate for 2 years?

2.

FILL IN THE BLANK QUESTION

15 mins • 1 pt

What is the yearly interest for a principal of $5,000 at 10%?

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A written response to repay the amount borrowed on a specific date, designated place, and at a stated rate of interest.

Principal

Promissory Note

Installment Loan

Contract

4.

MULTIPLE SELECT QUESTION

15 mins • 1 pt

What are the 3 C's of Credit?

Credibility

Casher

Character

Capital

Capacity

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Your honesty and willingness to pay a debt

Credibility

Characater

Capacity

Capital

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The value of your possessions

Capital

Net Worth

Self-Value

Liquidation

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The formula for computing interest is:

Mortgage Amount x 30 Years

Principal x Rate x Time

Principle x Time

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