Finance Test

What does it mean when a student loan is "forgiven"?

• You get a letter of apology from the government
• You don't have to keep going to classes to get your degree
• You don't get as much money as your were previosuly promised
• You don't have to pay back the remainder of your loan debt

The time between when you graduate and when you must begin repayment of student loans

• subsidized
• award letter
• grace period
• unsubsidized

Stafford loans, Perkins loans, and Plus loans are all __________________ from the government.

• alternative loans
• federal loans
• scholarships
• grants

If you select a repayment plan with a longer term for your loans...

• You will have a larger monthly pyament

• You will have a smaller monthly payment

• You will pay less in interest

• You will pay the same amount in interest

How many weekly pay periods are in a year?

• 12

• 24

• 26

• 52

How many biweekly pay periods are in a year?

• 12

• 24

• 26

• 52

Your annual salary is $22,500. What is your weekly salary?

The average number of shirts sold in the shop was 285 every day in summer. As the temperature was lower and lower, the average number of shirts decreased to 114 every day. What was the percentage decrease of in the average number of shirts sold in the shop?

• 60%

• 40%

• 150%

• 171%

Calculate the percent increase. Round to the nearest percent.

Original: 74

New: 296

• 300%

• 3.0%

• 75%

• 0.75%

Calculate the percent increase. Round to the nearest percent.

Original: 115

New: 161

• 40%

• 0.40%

• 29%

• 0.29%