Credit, Installment, Debt

Quiz
•
Science
•
11th Grade
•
Easy
Dennis Tolle
Used 2+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following is an example of Installment Credit?
Bank credit card
Payment plan for an appliance
Bill for dental care
Gas bill
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following is an example of Revolving Credit?
Store credit card
Electricity bill
Car loan
Student Loan
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tim is buying bedroom furniture on installment. If he makes monthly payments of $165 for 8 months, how much will he pay for that furniture?
$1,650
$1,320
$990
$1,155
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Jake is buying a used car on installment credit. If he owes $7,392 and he makes monthly payments of $308, how long will it take him to pay off the car?
4 years
3 years
2 years
1 year
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Karen borrowed $3,200 at 9% simple interest and paid it all back 2 years later. How much did he pay in interest only? (Remember Interest=P*R*T)
$288
$576
$3,776
$864
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tanya has a credit card balance of $1,650 on her credit card. The minimum payment is 3% of his balance. What is her minimum payment?
$49.50
$4.95
$66.00
$38.24
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is the original amount of loan before interest.
principal
loan term
credit
interest
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