What is the interest rate on a loan called?
Buying a Car

Quiz
•
Other
•
11th - 12th Grade
•
Hard
Anne Smith
Used 16+ times
FREE Resource
9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
APR-Accrued Percent Range
APR-Annual Percentage Rate
APR-Annual Primary Rate
APR-Annuity Preliminary Record
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The reduction of value in the car over time usually based on the wear and tear caused by driving the car
Principal
True Market Value
Warranty
Depreciation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The money you pay upfront when getting a car loan
principal
down payment
interest
APR
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is the company that makes the cars we drive (Ford, Toyota, etc.)
msrp
model
amazon
manufacturer
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is the assurance that your car will be protected from any major issues with the car in case something happens before the number of years you own the car or the number of miles you drive it.
msrp
warranty
depreciation
true market value
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is the price of the car that includes the fees and other charges that are added to the price of a car but is often not included in the advertised price.
msrp
sticker price
true market value
principal
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
when borrowing money from a bank, this is the amount of your monthly car payment that goes towards paying off your loan after interest has been deducted
APR
principal
msrp
down payment
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
this is the amount that a car manufacturer advises dealers to charge for a vehicle. It's just the starting point in negotiations at a car dealership.
MSRP
Loan
Principal
Down Payment
9.
FILL IN THE BLANK QUESTION
1 min • 1 pt
this is the measure of how far a car can travel using exactly one gallon of gas. This figure helps you to compare cars based on their efficiency
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