Vehicle Test Review
Authored by CRYSTAL K PHELPS
Financial Education
9th - 12th Grade
Used 4+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An initial amount, usually a percentage of a total cost, that is paid by a borrower to create equity in a purchase.
Incentives
Principal
Down Payment
Monthly Payment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The monetary charge for the privilege of borrowing money.
Incentives
Interest
Principal
Down Payment
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Choose the variables for calculating a loan.
Down Payment
Interest Rate
Make and Model of Vehicle
Length of Payment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As a general guideline, what percent of your monthly take home pay should you spend on a car?
6-8%
10-12%
14-16%
18-20%
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which year does a car depreciate the most?
1st Year
2nd Year
3rd Year
4th Year
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