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Worksheets2023 Credit Quiz
Total questions: 20
Worksheet time: 10mins
What is the monthly payment if the car you purchased was 28,000 and you financed all of it for 5 years at an interest rate of 9.5%?
588.05
588.00
578.00
600.00
What type of credit has a defined start and stop date?
Fee Based
Revolving
Installment
Service
What is the monthly payment if the car you purchased was 28,000 and you financed all of it for 5 years at an interest rate of 9.5%.
On this loan, what was the cost of credit?
7200.00
7283.00
6287.00
3000.00
If you bought a new boat and paid 23,500.00 for it and the monthly payments were 750.00 for 36 months.
What was your cost of credit?
3500.00
3350.00
3250.00
3000.00
If you financed a house for 15 years. How many monthly mortgage payments will you have to make?
15
120
150
180
1/1/2023 Previous Balance: 275.00
Purchases
1/4 - 35.00
1/8 - 75.00
1/10- 100.00
Payments
1/25 - 250.00
What is the Adjusted Balance?
275.00
250.00
235.00
200.00
Which of the follow items would be considered a durable purchase?
Loaf of Bread
A tank of gas
Cell Phone Bill
Pair of Jeans
1/1/2023 Previous Balance: 275.00
Purchases
1/4 - 35.00
1/8 - 75.00
1/10- 100.00
Payments
1/25 - 250.00
At 8.75%, what is the interest using the Adjusted Balance Method?
1.71
1.72
2.50
2.68
A cell phone bill is considered what type of credit?
Installment
Revolving
Fee Based
Service
Which of the following is NOT a Credit Card balance method we studied?
Monthly
Average
Previous
Adjusted
1/1/2023 Previous Balance: 275.00
Purchases
1/4 - 35.00
1/8 - 75.00
1/10- 100.00
Payments
1/25 - 250.00
What is the Previous Balance?
275.00
250.00
235.00
200.00
Typically, what is the cost of credit on an electric bill?
10.00
9.95
8.75
0.00
What type of credit is a Best Buy card.
Installment
Revolving
Service
Fee Based
1/1/2023 Previous Balance: 275.00
Purchases
1/4 - 35.00
1/8 - 75.00
1/10- 100.00
Payments
1/25 - 250.00
At 12.5%, what is the interest using the Previous Balance Method?
2.86
2.87
2.78
2.68
Which one of the following is NOT considered a penalty fee.
Late Fee
NSF Fee
Reconnect Fee
Telephone Fee
1/1/2023 Previous Balance: 275.00
Purchases
1/4 - 35.00
1/8 - 75.00
1/10- 100.00
Payments
1/25 - 250.00
At 10.50%, what is the interest using the Average Balance Method?
3.36
3.37
3.35
4.00
What is a difference between Pay Day Loans and Pawn Loans
Amount of the Fees
The ability to Roll it Over
The amount you have to pay.
The collateral that is provided.
1/1/2023 Previous Balance: 275.00
Purchases
1/4 - 35.00
1/8 - 75.00
1/10- 100.00
Payments
1/25 - 250.00
What is the Average Balance?
275.00
384.00
235.00
200.00
Fees that you have to pay because you did not live up to the contract are called?
Crazy Fees
Required Fees
Penalty Fees
Additional Fees
What type of credit has the same payment every month?
Revolving Credit
Installment Credit
Service Credit
Fee Based Credit
