Credit Card Word Problems Quiz

If you have a credit card balance of $1000 and the annual interest rate is 18%, what is the monthly interest charge?

• $200

• $50

• $150

• $100

Tags

CCSS.7.RP.A.3

If the minimum monthly payment on a credit card is $25 and the interest rate is 20%, how much of that payment goes towards the principal balance and how much goes towards the interest?

• The interest portion is $25 and the principal portion is $0.

• The interest portion is $10 and the principal portion is $15.

• The interest portion is $5 and the principal portion is $20.

• The interest portion is $20 and the principal portion is $5.

Tags

CCSS.7.RP.A.3

If the finance charge on a credit card with a balance of $500 and an interest rate of 15% is $10, what is the monthly interest charge?

• $6.25

• $15

• $5

• $20

Tags

CCSS.7.RP.A.3

If you have a credit card balance of $2000 and the annual interest rate is 12%, what is the minimum monthly payment if it is set at 2% of the balance?

• $40

• $500

• $20

• $100

Tags

CCSS.HSF.BF.A.2

If the finance charge on a credit card with a balance of $800 and an interest rate of 18% is $12, what is the monthly interest charge?

• Monthly Interest Rate = $12 / $800 = 0.03 = 3%

• Monthly Interest Rate = $12 / $800 = 0.015 = 15%

• Monthly Interest Rate = $12 / $800 = 0.0025 = 0.25%

• Monthly Interest Rate = $12 / $800 = 0.015 = 1.5%

If the minimum monthly payment on a credit card is $50 and the interest rate is 25%, how much of that payment goes towards the principal balance and how much goes towards the interest?

• Principal: $37.50, Interest: $12.50

• Principal: $30, Interest: $20

• Principal: $25, Interest: $25

• Principal: $40, Interest: $10

Tags

CCSS.7.RP.A.3

If you have a credit card balance of $1500 and the annual interest rate is 10%, what is the minimum monthly payment if it is set at 3% of the balance?

• $60

• $30

• $20

• $45

Tags

CCSS.HSF.BF.A.2

If the finance charge on a credit card with a balance of $1200 and an interest rate of 12% is $15, what is the monthly interest charge?

• 20%

• 1%

• 5%

• 10%

Tags

CCSS.7.RP.A.3

If the minimum monthly payment on a credit card is $75 and the interest rate is 15%, how much of that payment goes towards the principal balance and how much goes towards the interest?

• The amount that goes towards the principal is $40 and the amount that goes towards the interest is $35.

• The amount that goes towards the principal is $63.75 and the amount that goes towards the interest is $11.25.

• The amount that goes towards the principal is $50 and the amount that goes towards the interest is $25.

• The amount that goes towards the principal is $75 and the amount that goes towards the interest is $0.

Tags

CCSS.7.RP.A.3

If you have a credit card balance of $2500 and the annual interest rate is 22%, what is the monthly interest charge?

• $1000

• $458.33

• $200

• $350

Tags

CCSS.7.RP.A.3