What is the purpose of the adjustment period in a loan?

Loan Adjustments and Calculator Functions

Interactive Video
•
Mathematics
•
9th - 10th Grade
•
Hard

Thomas White
FREE Resource
Read more
16 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To decrease the loan term
To adjust the interest rate and payments
To increase the loan amount
To change the loan type
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the new interest rate determined?
By dividing the index rate by the margin
By subtracting the margin from the index rate
By adding the index rate and margin
By multiplying the index rate by the margin
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the index rate used in the calculation?
2.3%
11.5%
15%
99.2%
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the margin added to the index rate?
1.5%
3.5%
4.2%
2.3%
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many years are left on the loan after the first year?
21 years
20 years
19 years
18 years
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the new principal amount after the first adjustment?
835934.72
83593472
8359347.2
83593.472
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in using the calculator for the denominator?
Multiply 12 by 19
Add 12 to 12115
Subtract 12 from 12115
Divide 12 by 12115
Create a free account and access millions of resources
Similar Resources on Quizizz
9 questions
Loan Payment Calculations and Concepts

Interactive video
•
9th - 10th Grade
16 questions
Loan Amortization Concepts

Interactive video
•
9th - 10th Grade
9 questions
Amortization Schedule Concepts

Interactive video
•
9th - 10th Grade
11 questions
Understanding the Rule of 78

Interactive video
•
9th - 10th Grade
11 questions
Understanding Flat Rate Loans and Interest

Interactive video
•
9th - 10th Grade
11 questions
Calculating Loan Payments and Ratios

Interactive video
•
9th - 10th Grade
11 questions
Excel Functions and Formulas Concepts

Interactive video
•
9th - 10th Grade
11 questions
Loan Repayment and Geometric Progression

Interactive video
•
9th - 10th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
15 questions
June Review Quiz

Quiz
•
Professional Development
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
Discover more resources for Mathematics
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
10 questions
Exponential Growth and Decay Word Problems

Quiz
•
9th Grade
45 questions
Week 3.5 Review: Set 1

Quiz
•
9th - 12th Grade
17 questions
High School Survival Guide

Lesson
•
9th - 12th Grade
15 questions
Factoring Quadratics

Quiz
•
9th Grade