Payment methods

The purchase amount is immediately removed from a linked account.

• Debit Card

• Credit Card

• Stored-Value Card

Payments can be made in the future.

• Debit Card

• Credit Card

• Stored Value Card

Your credit rating is affected.

• Debit Card

• Credit Card

• Store Value Card

If you make only the minimum payment each month, you will pay more in interest and it will take longer to pay off the balance.

• Debit Card

• Credit Card

• Store Value Card

What does the following formula calculate?

I=PrT

• Compound interest

• Annual interest

• Account interest

• Simple interest

Tags

CCSS.HSA.SSE.A.1

The amount in the account

• Balance

• Budget

• Interest

• Financial systems

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CCSS.7.RP.A.3

Which method of payment should I use when making a small online purchase?

• Cash
• Credit Card
• Debit Card
• Check

What is a disadvantage of using a credit card?

• It is easy to use.
• You can spend more than you have. 
• It can be used in emergencies.
• Banks sometimes give rewards on credit cards. 

Steve has a good job as well as a checking and savings account. When he went to the store to buy groceries, his total was $45.23. However, he only had $30 in cash on him. How should he pay for his groceries?

• Credit Card
• Check
• Debit Card
• He should get more money from an ATM. 

Mary has a part-time job. She can pay her bills but does not typically have much money left over. She gets into a car accident and must pay $400 for her car to be fixed. She only has $150 in her bank account and $24 in cash. How should she pay to fix her car?

• Check
• Cash
• Credit Card
• Debit Card

Tags

CCSS.7.NS.A.3