Cost of Credit

Cost of Credit

8th - 12th Grade

23 Qs

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Cost of Credit

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Assessment

Quiz

Business

8th - 12th Grade

Practice Problem

Medium

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23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Amount of money borrowed

lien

collateral

principal

interest

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Money charged by the lender for the amount borrowed, expressed as an annual percentage.

interest rate

collateral

principal

loan

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Amount of time allotted for repayment of a loan

collateral

term

repossession

daylight savings time

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Asset assigned as security for a loan

term

down payment

collateral

lien

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Ability to borrow money and pay it back later

Credit

Debit

Creditor

Debtor

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Person who borrows the money

Creditor

Debt

Credit

Debtor

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Money that must be repaid

Credit

Debit

Debtor

Creditor

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