
Financial Responsibility Pt 1
Authored by Kacy Simpson
Other
12th Grade
Used 6+ times

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7 questions
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1.
MATCH QUESTION
5 mins • 5 pts
Plan for future spending and saving.
Budget
Is the cost of the item more than, equal, or less than the benefit that comes from purchasing it.
Cost Comparison
Cost paid to secure a good or service.
Expense
Comparing the cost of two or more goods or services to find the best value.
Cost-Benefit Analysis
Payment received for goods, services, including employment.
Income
2.
MATCH QUESTION
5 mins • 5 pts
provide funding for (a person or enterprise).
Financed
an initial payment made when something is bought on credit.
Down Payment
the proportion of a loan that is charged as interest to the borrower
Loan
a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
Creditworthiness
The extent to which a person or company is considered suitable to receive financial credit
Interest Rate
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Auto-Loan # 1
Loan Principle = $ 32,000
Down Payment = $ 5,000
Interest rate - 4.2 %
Loan term = 60 months
How much is the monthly payment??
$500.25
$499.69
$592.22
$425.98
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Auto-Loan # 1
Loan Principle = $ 32,000
Down Payment = $ 5,000
Interest rate - 4.2 %
Loan term = 60 months
How much is the interest charged??
$2981.20
$3533.28
$2525.25
$2268.98
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Auto-Loan # 2
Loan Principle = $ 58,000
Down Payment = $ 5,000
Interest rate - 5 %
Loan term = 48 months
How much is the monthly payment??
$1335.70
$1258.85
$1220.55
$1452.84
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Auto-Loan # 2
Loan Principle = $ 58,000
Down Payment = $ 5,000
Interest rate - 5 %
Loan term = 48 months
How much is the total interest charged?
$6113.55
$5242.58
$5112.52
$5586.52
7.
MULTIPLE SELECT QUESTION
5 mins • 1 pt
How does your credit score affect your finance rate?
Lower the score higher the rate
Higher the score better the rate
Lower the score better the rate
Higher the score higher the rate
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