Question

consumer math b all qustion answers

Answer 1

1. A(n) _____ shows you the schedule of payments on a loan and the total
interest and payments at the end of the loan. (1 point) (0 pts) payoff table
(1 pt) amortization table
(0 pts) payment table
(0 pts) interest table

1 /1 point





2. Secured debts must have _____. (1 point) (1 pt) collateral
(0 pts) real property
(0 pts) low interest rates
(0 pts) certified lenders

1 /1 point





3. Using the table, where does the smallest change in interest rates between
secured and unsecured occur?





Secured

Unsecured


Credit

APR

APR


Excellent

4.75%

5.50%


Good

5.00%

5.90%


Average

5.85%

6.75%


Fair

6.40%

7.25%


Poor

7.50%

8.40%

(1 point) (1 pt) at the excellent rating
(0 pts) at the good rating
(0 pts) at the average rating
(0 pts) at the fair rating

1 /1 point





4. You are purchasing a car for $12,985.00 with the help of your parents. How
much interest is saved in the first month by you using their good credit rating
compared to your fair credit rating, using the table above? (1 point)


Review Guidelines:

(12985) * (0.014) * 1/12 = 15.14916666 = $15.15
(0 pts) $14.61
(0 pts) $54.10
(1 pt) $15.15
(0 pts) $69.25

Answer 2

for any one doing consumer math b