Chapter 7 and 8 Review
Authored by Caden Hensley
Mathematics
12th Grade
CCSS covered
Used 6+ times
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The original sum of money borrowed is called the
principal.
collateral.
lien.
installment.
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The length of time that money will be borrowed is the
ordinary interest period
principal period
amortization period
term
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A down payment
increases the risk to the lender.
is the portion of a purchase which the borrower pays up front.
is the same as an early loan repayment.
must be at least 10%.
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Pawnshops
can buy personal property but cannot sell it.
offer loans that require collateral.
offer loans that do not require collateral.
are another name for payday lenders.
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Cheyenne checked her department store credit account balance online and learned that it was $108.38. Afterward, she made a purchase in the amount of $117.42. If her credit limit is $800, what is Cheyenne’s remaining available credit on this account?
Cheyenne checked her department store credit account balance online and learned that it was $108.38. Afterward, she made a purchase in the amount of $117.42. If her credit limit is $800, what is Cheyenne’s remaining available credit on this account?
Tags
CCSS.7.NS.A.3
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Sandra has a credit card with an APR of 24.7%. What is her monthly periodic rate? Round to the nearest ten-thousandth (0.0001) if necessary.
Sandra has a credit card with an APR of 24.7%. What is her monthly periodic rate? Round to the nearest ten-thousandth (0.0001) if necessary.
Tags
CCSS.7.RP.A.3
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Ian has a credit card that charges a 2.75% fee for a cash advance. Because of a family emergency, he decided to get an $800 cash advance. What is the fee that Ian will pay for the cash advance? Round to the nearest cent ($0.01) if necessary.
Ian has a credit card that charges a 2.75% fee for a cash advance. Because of a family emergency, he decided to get an $800 cash advance. What is the fee that Ian will pay for the cash advance? Round to the nearest cent ($0.01) if necessary.
Tags
CCSS.7.RP.A.3
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