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Chapter 18: Consumer Credit

Authored by Gerald Jost

Other, Instructional Technology

9th Grade

Used 2+ times

Chapter 18: Consumer Credit
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36 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is illegal for a state or local government to purchase goods on credit.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you borrowed $100 for one year and paid $110 at maturity, the interest rate you paid would be 10 percent.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People who use affinity cards are usually expected to pay the full balance each month.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An installment loan is one in which you agree to make monthly payments in specific amounts over a period of time.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person’s reputation for paying bills on time is known as collateral.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The cost of using someone else’s money is called interest.

True

Falses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A creditor is a business or individual who is willing and able to provide information about your creditworthiness.

True

Falses

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