FINE PRINT: Schumer Box

FINE PRINT: Schumer Box

14 Qs

quiz-placeholder

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FINE PRINT: Schumer Box

FINE PRINT: Schumer Box

Assessment

Quiz

others

Practice Problem

Hard

Created by

Erin Bortz

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14 questions

Show all answers

1.

OPEN ENDED QUESTION

30 sec • Ungraded

First Name:

Evaluate responses using AI:

OFF

2.

OPEN ENDED QUESTION

30 sec • Ungraded

Last Name:

Evaluate responses using AI:

OFF

3.

MULTIPLE CHOICE QUESTION

30 sec • Ungraded

Class Period

2nd
3rd
5th

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. What is the APR (interest rate) on this card for Purchases made during the first six months that a cardholder has this card?

0%
15.24%
23.24%
25.24%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. Jordan gets confused and uses his credit card to get $40 in cash from an ATM instead of using his debit card. Based on this agreement, what is the impact of this decision?

There is no impact since credit card and debit card terms tend to be the same.
A $10 cash advance fee will be charged ONLY.
An A.P.R. of 25.24% will be applied on the $40 until it is paid back ONLY.
A $10 cash advance fee will be charged AND an A.P.R. of 25.24% will be applied on the $40 until it is paid back.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

3. Assume that Louisa carried an average balance of $1,000 from her credit card purchases over the past year. The A.P.R. on her credit card for the past year was 19.99%. Approximately how much interest would Louisa have paid over the course of the year?

She would have paid interest charges of $2,000.
She would have paid interest charges of $20.
The credit card company would have paid Louisa $20
She would have paid interest charges of $200.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. After the introductory period, all consumers who have this Platinum Card will...

Pay the same A.P.R.
Qualify for an A.P.R. based on their creditworthiness
Pay the Penalty A.P.R. of 30.24%
Be charged an Annual Fee

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