Consumer Credit Practice Quizizz 1
Authored by Timothy McGill
Mathematics, Business
9th - 12th Grade
CCSS covered
Used 16+ times
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13 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
This is the type of loan in which you pay back by making regular payments on.
Open End Credit
Closed End Credit
Installment
Simple Interest
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A type if installment loan where there is no fixed number of payments is called
Open End Credit Loan
Closed End Credit Loan
Installment Payments
Amount Financed
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which equation would you use to calculate the amount financed?
Amount Financed = Cash Price - Down Payment
Amount Financed = Cash Price + Down Payment
Amount Financed = Installment Price - Cash Price
Amount Financed = Amount of Payments * Number of Payments
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This refers to the total amount you have to pay to buy something. It includes the sum of all your installment payments + your down payment.
Maturity Value
Cash Price
Down Payment
Installment Price
5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
To find the total of installment payments I need to multiply these two things together.
Amount of Installment Payment
Down Payment
Number of Installment Payments
Amount Financed
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
I would use this equation to find the Installment Price for an Installment Loan.
Installment Price = Amount Financed + Down Payment
Installment Price = Total of Installment Payments + Down Payment
Installment Price = Down Payment + Installment Payment
Installment Price = Cash Price + Down Payment
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
To find the finance charge (extra money you have to pay back/interest) on a an item you need to find the difference between the......
Installment Price
Down Payment
Amount Financed
Cash Price
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