i need help on all theses pz?

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  • #41509

    admin
    Participant

    1. If you owe money to a creditor, you are a _____. (1 point)
    loaner
    creditor
    debtor
    loanee
    2. _____ is the amount of money owed in addition to the original amount. (1 point)
    Principal
    Interest
    APR
    APY
    3. The original amount owed on a loan is known as ____. (1 point)
    principal
    available balance
    credit
    collateral
    4. Which item is NOT an asset? (1 point)
    house
    car
    debit card
    cash
    5. Credit scores are made of _____. (1 point)
    credit history, payment history, debt ratio, and types of credit
    credit profile
    FICO
    creditworthiness
    6. Another name for a debit card is _____. (1 point)
    charge card
    cash transaction
    check card
    credit card
    7. A perfect credit score is _____ points. (1 point)
    750
    650
    700
    800
    8. When starting your credit history, a low-credit-limit, high-interest-rate credit card should be paid ____. (1 point)
    in full, on time, every time
    in even payments each time
    at least the minimum due
    as much as you can when due
    9. APY means ____. (1 point)
    annual percentage yield
    annual percentage yearly
    apportioned percentage yield
    applied percentage yield
    10. Payment history is ____ of your credit score. (1 point)
    35%
    30%
    10%
    15%
    11. Your gross pay is $ 2,759.00. Your involuntary deductions are FICA (7.65%), federal withholding (12%), and state withholding (7%). How much are you allowed for housing and fixed expenses? (1 point)
    $ 772.52
    $ 993.24
    $ 728.54
    $ 566.64
    12. You are paid $ 8.25/hour. You work 35 hours/week for 3 weeks. Your involuntary deductions are FICA (7.65%), federal withholding (13%), and state withholding (9%). How much is your realized income? (1 point)
    $ 203.13
    $ 866.25
    $ 288.75
    $ 609.39
    13. You carry a balance of $ 3,168.00 on a credit card at a 12.75% APR for 7 months. How much is your total payment by the end of the seventh month? (1 point)
    $ 3,571.92
    $ 3,403.62
    $ 3,201.66
    $ 3,860.43
    14. Your mortgage is $ 135,400.00 at a 5.25% APR. If you pay $ 1,500.00 towards the mortgage each month, how much is applied toward the principal by the end of the second month? (1 point)
    $ 1,815.25
    $ 315.25
    $ 911.60
    $ 1,184.75
    15. You have $ 1,998.00 on a credit card with a 14.5% APR. You miss your minimum payment the first month and there is a late fee of $ 37.00. How much is your balance at the beginning of the second month? (1 point)
    $ 2,059.14
    $ 2,022.14
    $ 2,046.29
    $ 2,083.29
    16. You take out a cash advance of $ 2,790.00 on a credit card with a 3.5% cash advance fee and a 13.5% APR. What is the amount due by the end of the month? (1 point)
    $ 2,887.65
    $ 2,821.39
    $ 3,277.48
    $ 2,920.14
    17. You have a credit card with a balance of $ 1,256.34 and a 9.5% APR. A late payment fee of $ 29.00 is added to the principal if you pay after 5/28. You make a payment for $ 200.00 on 5/28. How much interest did you pay? (1 point)
    $ 100.35
    $ 9.95
    $ 8.36
    $ 119.35
    18. You make a purchase of $ 1,987.54 using a rewards credit card that gives you 2% cash back. If the credit card has a 17.75% APR and you do not make a payment the first month, how much is the difference between the interest and reward? (1 point)
    $ 10.35
    $ 39.75
    $ 29.40
    $ 28.81
    19. You have four credit cards. Each has a balance of $ 950.00, but their credit limits are $ 1,000.00, $ 1,800.00, $ 2,200.00, and $ 5,000.00. Paying off and closing which card would decrease your debt ratio? (1 point)
    $ 5,000.00 limit
    $ 2,200.00 limit
    $ 1,800.00 limit
    $ 1,000.00 limit
    20. You have two credit cards. One has a balance of $ 3,745.00 at a 6.25% APR and the other has a balance of $ 1,045.00 and is dependent upon your credit score. Your score is 500. How much total interest is accrued in the first month?

    Score
    <500
    500-650
    651-750
    751-800

    Rate (APR)
    12.75%
    10.25%
    7.5%
    5.75%

    (1 point)
    $ 24.51
    $ 26.04
    $ 28.44

    #180106

    admin
    Keymaster

    You know. these questions are pretty easy if you pay attention. i am working on it too. 1.c 2.b 6.c 8.a 10.a

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