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Question 1

CAR FINANCING FOR LESS
2-YEAR TERM
UP TO $40,000
6% COMPOUNDED ANNUALLY WITH A $500
UP-FRONT PAYMENT
A)
What part of the offered deal is the interest
rate?
(1 point)
2 YEAR TERM
UP TO $40,000
6% COMPOUNDED ANNUALLY
$500 UP-FRONT PAYMENT
Question 2
A)
In which economic situation would interest rates decrease?
(1 point)
Most people are saving rather than buying houses.
Average families are choosing to invest in new businesses.
High consumption is driving a surge in the services sector.
Increased job stability is encouraging workers to make big purchases
Question 3
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.
A)
Use the scenario to answer the question.
How will Maria’s record affect the loans she
is offered?
(1 point)
She will be offered longer terms.
She will be offered shorter terms.
She will be offered lower interest
rates.
She will be offered higher interest
rates

1 answer

Question 1
A) What part of the offered deal is the interest rate?
The interest rate in the deal is 6% COMPOUNDED ANNUALLY.

Question 2
A) In which economic situation would interest rates decrease?
The situation in which interest rates would likely decrease is: Most people are saving rather than buying houses.

Question 3
A) How will Maria’s record affect the loans she is offered?
Maria’s record of paying off debt in full sooner than expected will likely result in her being offered: She will be offered lower interest rates.