The part of the offered deal that is the interest rate is "6% COMPOUNDED ANNUALLY."
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Feature
CAR FINANCING FOR LESS
2-YEAR TERM
UP TO $40,000
6% COMPOUNDED ANNUALLY WITH A $500 UP-FRONT PAYMENT
Question
What part of the offered deal is the interest rate?
(1 point)
Responses
2 YEAR TERM
2 YEAR TERM
UP TO $40,000
UP TO $40,000
6% COMPOUNDED ANNUALLY
6% COMPOUNDED ANNUALLY
$500 UP-FRONT PAYMENT
$500 UP-FRONT PAYMENT
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5 answers
2 of 32 of 3 Items
Question
In which economic situation would interest rates decrease?
(1 point)
Responses
Most people are saving rather than buying houses.
Most people are saving rather than buying houses.
Average families are choosing to invest in new businesses.
Average families are choosing to invest in new businesses.
High consumption is driving a surge in the services sector.
High consumption is driving a surge in the services sector.
Increased job stability is encouraging workers to make big purchases.
Increased job stability is encouraging workers to make big purchases.
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Question
In which economic situation would interest rates decrease?
(1 point)
Responses
Most people are saving rather than buying houses.
Most people are saving rather than buying houses.
Average families are choosing to invest in new businesses.
Average families are choosing to invest in new businesses.
High consumption is driving a surge in the services sector.
High consumption is driving a surge in the services sector.
Increased job stability is encouraging workers to make big purchases.
Increased job stability is encouraging workers to make big purchases.
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Interest rates would likely decrease in the situation where "Most people are saving rather than buying houses." When saving increases, there is less demand for borrowing, which can lead to lower interest rates.
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Maria Ivanov has owned a successful clothing boutique chain for 20 years. She has gone into debt several times to expand her business. Each time, she paid off the debt in full sooner than expected.
Question
Use the scenario to answer the question.
How will Maria’s record affect the loans she is offered?
(1 point)
Responses
She will be offered longer terms.
She will be offered longer terms.
She will be offered shorter terms.
She will be offered shorter terms.
She will be offered lower interest rates.
She will be offered lower interest rates.
She will be offered higher interest rates.
She will be offered higher interest rates.
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Feature
Maria Ivanov has owned a successful clothing boutique chain for 20 years. She has gone into debt several times to expand her business. Each time, she paid off the debt in full sooner than expected.
Question
Use the scenario to answer the question.
How will Maria’s record affect the loans she is offered?
(1 point)
Responses
She will be offered longer terms.
She will be offered longer terms.
She will be offered shorter terms.
She will be offered shorter terms.
She will be offered lower interest rates.
She will be offered lower interest rates.
She will be offered higher interest rates.
She will be offered higher interest rates.
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Maria's strong record of successfully paying off her debts sooner than expected will likely lead to her being offered "lower interest rates." Lenders view her as a reliable borrower, which reduces their risk and typically results in more favorable loan terms.
5 answers