Ch 3 Debt

Quiz
•
Science
•
University
•
Easy
Standards-aligned

shadow fire
Used 4+ times
FREE Resource
57 questions
Show all answers
1.
MATCH QUESTION
1 min • 1 pt
Match the definitions
Time frame that a loan agreement is in force
loan term
An amount of money placed at a person's disposal by a bank; money owed
credit
Type of card issued by a bank that allows users to finance a purchase
credit card
Cost of borrowing money on an annual basis
introductory rate
An interest rate charged during the early stages of a loan that often goes up after time
annual percentage rate (APR)
2.
REORDER QUESTION
1 min • 1 pt
Reorder the debt snowball
minimum payments are made to all debts except for the smallest
includes a list of all debt from smallest to largest
the smallest debt is attacked with the largest possible payments
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Debt is so ingrained into our culture that most Americans can't even envision a car without a payment, a house without a mortgage, a student without a student loan, and credit without a card
true
false
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In today's world you need debt to make it
true
false
Answer explanation
You'll be much better without it
5.
DRAG AND DROP QUESTION
1 min • 1 pt
(a) of Americans are living paycheck to paycheck
6.
DRAG AND DROP QUESTION
1 min • 1 pt
Debt has been (a) to us with such intensity for so long that to imagine living without it requires a complete (b) shift
7.
DRAG AND DROP QUESTION
1 min • 1 pt
In, (a) , the first credit card was created by Frank McNamara's company (b) and is still in business today
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