MCP Test 9 Retake

MCP Test 9 Retake

15 Qs

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MCP Test 9 Retake

MCP Test 9 Retake

Assessment

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Practice Problem

Hard

Created by

Whitney Youngblood

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15 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

30 sec • 4 pts

The percentage form of 0.034 is

2.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Media Image

Which Excel formula computes the periodic interest rate for the credit card customer after the introductory one-year period has elapsed? Assume no change in the market based on the Prime Rate.

=0.0899/12
=0.1299/12
=0.1499/12

3.

FILL IN THE BLANK QUESTION

30 sec • 3 pts

Media Image

If Roberta had the credit card for more than a year, what is the amount of interest charged on an average balance of $1,560?

4.

FILL IN THE BLANK QUESTION

30 sec • 3 pts

Media Image

What is the minimum interest charge?

5.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Media Image

What APR will you pay for bank cash advances?

25.24%
0%
13.24%
16.24%
23.24%

6.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Holly has a credit card with an APR of 14.99% She did not pay her entire bill last month so she will be charged a finance charge this month. If her balance was $2,700, how much will her finance charge be this month? [Hint: find the periodic rate first.]

$33.73
$40.47
$404.73
$3372.75

7.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Media Image

Debra has a very poor credit score. According to the credit card disclosure, what APR will she be charged?

11.99%
21.99%
23.99%
25.99%

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