Cost of Credit
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Cost of Credit
Quiz
•
Business
•
8th - 12th Grade
•
Practice Problem
•
Medium
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23 questions
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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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