
Understanding Car Loan Interest Rates

Interactive Video
•
Mathematics, Business, Life Skills
•
7th - 12th Grade
•
Easy
+1
Standards-aligned

Sophia Harris
Used 1+ times
FREE Resource
Standards-aligned
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main topic discussed in the video?
Credit card interest rates
Car loan interest rates
Home loan interest rates
Student loan interest rates
Tags
CCSS.8.EE.C.7B
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you finance a car for $24,000 at 3% interest over 60 months, what is your monthly payment?
$500
$431
$350
$600
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much total interest will you pay on a $24,000 car loan at 3% over 60 months?
$2,000
$2,500
$1,500
$1,875
Tags
CCSS.HSA.APR.B.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do the principal payments increase over time in a car loan?
The monthly payment decreases
The loan term decreases
The principal amount decreases
The interest rate increases
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean to be 'upside down' on a car loan?
Having a longer loan term than average
Owing more on the car than it is worth
Having a lower interest rate than expected
Paying off the loan early
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential risk of taking a car loan longer than 60 months?
Better resale value
Increased car value
Lower monthly payments
Higher interest rates
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the average interest rate for a 68-month car loan?
6.0%
3.0%
4.2%
5.0%
Tags
CCSS.5.NF.B.6
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