i need help on all theses pz?



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

One thought on “i need help on all theses pz?

  1. 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