Consumer Credit Quizizz

Consumer Credit Quizizz

9th - 12th Grade

11 Qs

quiz-placeholder

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Consumer Credit Quizizz

Consumer Credit Quizizz

Assessment

Quiz

Business, Mathematics

9th - 12th Grade

Practice Problem

Hard

Created by

Timothy McGill

Used 49+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is the term for the amount of a loan, after a down payment is made.

Installment Price

Maturity Value

Principal

Installment Payment

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is the minimum amount you must pay off on your credit card statement to ensure that you will not be charged interest on your statement.

Minimum Payment

Last Statement Balance

Current Balance

APR

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This amount is good to compare when looking at installment loans, it tells you the total amount in the end that you are paying for what you purchased.

Installment Price

Maturity Value

Total Of Installment Payments

Interest Refund

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

You are purchasing a car that has a cash price of $14,979 and make a 5% down payment. Calculate the amount of your down payment.

$14,230.05

7,489.50

$11,471.23

$748.95

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

You are purchasing a camper that has a cash price of $26,995 and make a 12% down payment, calculate the principal of the loan.

$23,755.60

$2,375.56

$3,239.40

23,755.6

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

While paying off your installment loan over 5 years you made payments of $381.62. Calculate the total of installment payments.

$18,317.76

$22,897.20

$23,660.44

$27,476.64

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

You take out an installment loan for 6 years and pay it off with 15 months remaining, find the refund fraction.

15/72

240/5256

6/15

16/73

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