1. Which of the following is an advantage of using credit cards? (Points : 1)
Credit card accounts charge monthly interest.
It is very easy to charge more than you can pay off each month.
If you pay late, you will be charged a late fee.
They are convenient.
2. The amount left when you subtract last month's payment from last month's balance on a credit card statement is the (Points : 1)
APR.
unpaid balance.
new balance.
minimum payment.
3. The percentage charged each month on purchases charged to the credit card account is called the (Points : 1)
periodic rate
new balance
unpaid balance
minimum payment
4. Use this information for questions 4-6.
On Kathleen's credit card statement, her last balance was $89.70. She made a payment of $20, had new charges totalling $32.11, and pays a periodic rate of 1.23 percent. What is her unpaid balance?
(Points : 1)
$102.91
$77.59
$101.81
$69.70
5. What was Kathleen's finance charge? (Points : 1)
$1.10
$0.86
$1.25
$1.23
6. What is Kathleen's new balance? (Points : 1)
$102.67
$122.67
$82.67
$92.67
7. Jack's credit card statement showed these items:
Last Balance Payments Finance Rate New Charges
$95.85 $45.00 1.5% $345.90
What is Jack's new balance? (Points : 1)
$494.05
$402.70
$397.51
$448.38
3 answers
2: Unpaid Balance
3: Periodic Rate
4: $69.70
5: $0.86
6: $102.67
7: $397.51
8: $2.96
9: $51.83
10: $25
(I hate K12 quizzes, but I hope this helps someone!)
1 answer