Interest, Loan Repayments, & Cost of College Review

Money you borrow and pay back with interest

• Debit

• Loan

• Principal

• Withdrawl

Money borrowed with the expectation of repayment

• Debit

• Credit

• Interest

• Principal

(a)  

Tags

CCSS.6.RP.A.3D

The act of paying off debt.

• credit

• monthly payment

• repayment

• term

How much less will Kara pay in total if she chooses the 3 year loan?

• $19

• $54

• $228

• $648

What is the minimum monthly payment to pay off $5500 loan with a 5% interest rate for a term of 2 years? (use bankrate.com total loan cost calculator)

• $241.29

• $291.02

• $5,791.02

• $6.250.15

Tags

CCSS.8.EE.C.7B

The money you pay to borrow money or use credit

• Interest

• Deposit

• Withdrawl

• Loan

What is the minimum monthly payment to pay off $500 loan with a 65% interest rate for a term of 35 months ?

• $1,125.56

• $625.56

• $45.25

• $32.16

The original amount of money deposited or saved

• Debit

• Loan

• Withdrawl

• Principal

Tags

CCSS.6.NS.C.5

Payment card you can use to make purchases, then pay a bill at the end of a billing cycle.

• Loan

• Deposit

• Debit Card

• Credit Card