Untitled Quiz

how does apr work?

• APR is only applicable to credit cards.
• APR is calculated based on the monthly payment amount.
• APR is a fixed percentage that never changes.
• APR works by calculating the total cost of borrowing or the total return on investment over a year, allowing consumers to compare different financial products more easily.

what is the definition for capacity in finance

• Capacity in finance is the total revenue generated by a business.
• Capacity is the maximum amount of money a bank can lend.
• Capacity refers to the total amount of assets owned by a company.
• the ability to pay back

what is capital

• Capital refers to a type of fruit.
• Capital is a geographical location.
• Capital is a form of exercise.
• money used to make a buisness

what is collateral

• Collateral is a type of insurance policy.
• Collateral is a form of interest rate.
• Collateral is a government grant for businesses.
• something of value that lenders can sell

what is credit

• Credit refers to the amount of cash one has in a bank account.
• Credit is a measure of a person's wealth and assets.
• Credit is a type of currency used in transactions.
• amount of financial trust extended

what is debit

• amount of money you own

• A debit is a financial statement that summarizes income and expenses.
• A debit is an entry that only affects revenue accounts.
• A debit is a type of loan that increases liabilities.

what is a finance charge

• A finance charge is the cost of borrowing money, including interest and fees.
• A finance charge is a type of investment.
• A finance charge is the total amount of savings earned.
• A finance charge is a government tax on income.

what is loan term

• The total amount of money borrowed.
• The interest rate applied to a loan.
• The fees associated with taking out a loan.
• The length of time for which a loan is issued.

what is a fixed expense

• A fixed expense varies with production levels.
• A fixed expense is a one-time payment only.
• A fixed expense changes every month.
• payments that are exact

what is income

• Income is a type of tax.
• Income is the total amount of debt.
• Income is the value of assets owned.
• any paycheck recieved