Loans Assessment Analysis
Authored by William Glynn
Mathematics
10th Grade
CCSS covered
Used 6+ times
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38 questions
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1.
CATEGORIZE QUESTION
5 mins • 2 pts
Classify the following loan types as secured or unsecured.
Groups:
(a) Secured
,
(b) Unsecured
2.
MATH RESPONSE QUESTION
5 mins • 2 pts
If there is a 6.25% sales tax on a $35.50 item, how much will you pay for the item plus tax?
Mathematical Equivalence
ON
Tags
CCSS.6.RP.A.3C
3.
MULTIPLE CHOICE QUESTION
5 mins • 2 pts
A $150,000 dollar loan can be paid off in two years with monthly payments of $6,784.09
What will be total interest paid?
$12,818.16
$12,453.65
$12,692.24
$12,007.45
4.
DROPDOWN QUESTION
5 mins • 2 pts
As you progress through paying off an installment loan, the individual value of your principal payments will (a) , interest payments will (b) , and your loan balance will (c) .
5.
MULTIPLE CHOICE QUESTION
5 mins • 2 pts
Joan takes out a $65,000.00 home equity lone to build a pool in the backyard of her house. Her loan will have an interest rate of 6% and she will make monthly payments of $1,077.24. How many years will it take Joan to pay off her loan?
4 years
5 years
6 years
8 years
6.
MULTIPLE SELECT QUESTION
5 mins • 2 pts
Which of the following could decrease the monthly payment of a loan?
Raising the interest rate
Increasing the term length
Accepting a variable interest rate
Decreasing the term length
7.
MULTIPLE SELECT QUESTION
5 mins • 2 pts
Which of the following could increase the monthly payment of a loan?
Raising the interest rate
Increasing the term length
Accepting a variable interest rate
Decreasing the term length
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