Consumer Math A Unit 4 Review

Someone who lends money and expects to be paid back is called a _____

• creditor

• debtor

• borrower

• loanee

_____ is the original amount of money borrowed which accrues interest.

• APR

• APY

• Principal

• Interest

Something of value pledged to a lender to secure a loan is called ____.

• credit

• collateral

• principal

• available balance

Which of these are assets? Check all that apply.

• house

• car

• debit card

• cash

• college degree

Which of these are used to determine credit score? Check all that apply.

• payment history

• amounts owed

• length of credit history

• credit mix

• new credit

A) Another name for a check card is a (a)   . (1 point)

• debit card
• credit card

• charge card

• cash transaction

What is a perfect credit score?

Enter your answer as a number.

Mathematical Equivalence

ON

When starting your credit history, a low-credit-limit, high-interest-rate credit card should be ___

• paid if you have the funds available

• paid in full each month to avoid interest charges

• paid with the minimum payment to keep the account active

• closed in order to lower your debt:credit ratio

APR stands for ________.

• Annual Profit Return

• Adjusted Principal Ratio

• Average Payment Rate

• Annual Percentage Rate

What percent of your credit score is payment history?

Mathematical Equivalence

ON