WorksheetsCredit Cards
Total questions: 7
Worksheet time: 2mins
Name
Class
Date
1.
The cost of credit expressed as a yearly interest rate is known as:
a)
Annual Percentage Rate (APR)
b)
Annual Fee
c)
Penalty APR
d)
Introductory Rate
2.
The maximum amount you may borrow on a credit card is known as:
a)
cash limit
b)
credit report
c)
credit limit
d)
bank fee
3.
It is wise to compare credit card offers before choosing one
a)
True
b)
False
4.
You have a choice between two credit cards: BPI 2.00% or HSBC 3.50%. Which card offers the better rate?
a)
BPI
b)
HSBC
c)
Neither
d)
All of the above
5.
Even if you pay your balance in full each month most credit cards will still charge you interest
a)
TRUE
b)
FALSE
6.
The installment price of a desktop computer was P 61,000 for a 12 month loan. If P16,000 down payment was made, find the monthly installment payment.
a)
3,950
b)
3,750
c)
3,800
d)
3,900
7.
Sofia bought a car for P1.2M and paid 40% as down payment. She chosen a 36 months installment loan for her remaining balance. If she will pay P 23,000 monthly, calculate her interest charge.
a)
PHP 108,000
b)
PHP 97,000
c)
PHP 102,500
d)
PHP 112,340
100 %
