Understanding Credit Card Interest and Payments
Interactive Video
•
Mathematics
•
9th - 10th Grade
•
Practice Problem
•
Hard
Nancy Jackson
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the annual percentage rate (APR) on Tim's new credit card?
21%
15%
25%
19%
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much interest does Tim pay in the first month?
$12.75
$10.50
$15.83
$18.00
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Tim's balance at the end of the second month?
$960.00
$990.83
$981.49
$972.00
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much interest does Tim pay in the third month?
$15.00
$16.00
$14.75
$15.51
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
After five months, how much does Tim still owe on his credit card?
$900.00
$980.00
$952.57
$970.00
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