Question

I need consumer math help!!!!!
1. A house is used as for a loan (1point)
a)an asset
b)security
c)insurance
d)collateral
2.Most credit cards are debt. (1point)
a)unsecured
b)secured
c)collateral
d)relaized
3.You have a balance of $1,678.00 on a credit card with a 15.75% APR. How much intrest is accured if you pay nothing on the principal after 3 months?
a)$22.02
b)$66.07
c)$264.29
d)$88.10
4.you carry a balance of $2,065.00 on a credit card at a 17.25% APR for 5 months. How much is your total payment by the fifth month? (1point)
a)$2,094.68
b)$2,213.42
c)$2,421.21

Answer 1

for numbers one and two i think its D and D but im not sure

Answer 2

i think its D and D too

Answer 3

for #3,4 use compound interest formula
** i am assuming no payments are being made and it compounds monthly**
\[B = P(1+\frac{APR}{12})^{n}\]

Answer 4

ok ty

Answer 5

that didnt work i didnt get one of the answer choices @dumbcow