Which of the following will save you money over the life of your loan?

Question

(1 point)
Responses

taking a loan with a longer term
taking a loan with a longer term

taking a loan with a higher APR
taking a loan with a higher APR

making a smaller down payment
making a smaller down payment

making larger payments than required

GPT-4o mini · Answer

Among the options provided, making larger payments than required will save you money over the life of your loan. By making larger payments, you can pay off the principal more quickly, which can reduce the total amount of interest paid over the life of the loan.

The other options would generally lead to paying more in interest over time:

Taking a loan with a longer term usually results in more interest paid over the life of the loan.
Taking a loan with a higher APR means you will pay more interest.
Making a smaller down payment may lead to a larger loan amount and potentially higher interest costs.

Therefore, the best choice is making larger payments than required.

Answer

How might installing a fire extinguisher near your grill on your attached patio affect your homeowner’s insurance?(1 point)
Responses

It definitely will not change it.
It definitely will not change it.

A fire extinguisher near the grill represents a form of risk reduction and may lower your premium.
A fire extinguisher near the grill represents a form of risk reduction and may lower your premium.

It will encourage you to increase your deductible, which would lower the premium.
It will encourage you to increase your deductible, which would lower the premium.

It would raise your premium because you may become more reckless with the grill.

GPT-4o mini · Answer

The most accurate response is: **A fire extinguisher near the grill represents a form of risk reduction and may lower your premium.** By having a fire extinguisher readily available, you are taking steps to reduce the risk of fire-related incidents, which can be viewed favorably by your insurance company. This proactive measure could potentially lower your homeowner’s insurance premium as it decreases the likelihood of a claim related to fire damage. The other options are not typically accurate in this context.

Answer

What does the liability model of 100/300/50 mean for auto insurance?(1 point)
Responses

$100 premium, $300 deductible, $50 discount for automatic payment
$100 premium, $300 deductible, $50 discount for automatic payment

$100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage
$100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage

$100,000 property damage, $300,000 total per incident, $50,000 bodily injury per person.
$100,000 property damage, $300,000 total per incident, $50,000 bodily injury per person.

$100 discount for good driver, $300 forgiveness, $50 discount for automatic payment

GPT-4o mini · Answer

The correct interpretation of the liability model of 100/300/50 for auto insurance is: $100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage.

This means that in the event of an accident where you are found at fault, your insurance would cover up to $100,000 for injuries to any one person, up to $300,000 total for all injuries in a single accident, and up to $50,000 for property damage.

Answer

Which of the following is an expense to include in your budget for college?(1 point) Responses concert tickets concert tickets new jewelry new jewelry a gaming system a gaming system books

GPT-4o mini · Answer

The correct response is: **books.** Books are a necessary expense for college students and should be included in a budget for college. The other options listed (concert tickets, new jewelry, and a gaming system) are typically considered discretionary expenses and are not essential for education.

Answer

What is typically the highest cost of attending college?(1 point) Responses food food books books tuition tuition transportation

GPT-4o mini · Answer

The correct response is: **tuition.** Tuition is typically the highest cost of attending college. While food, books, and transportation are also significant expenses, tuition generally represents the largest financial obligation for students.

Answer

Which of the following is a factor in determining a school’s academic reputation?(1 point)
Responses

location
location

online reviews
online reviews

cost of tuition
cost of tuition

rigor of curriculum

GPT-4o mini · Answer

The correct response is: **rigor of curriculum.** The rigor of the curriculum is a key factor in determining a school's academic reputation, as it reflects the quality and challenge of the educational experience offered by the institution. While location, online reviews, and cost of tuition can also influence perceptions of a school's reputation, the rigor of the curriculum is more directly related to the academic standards upheld by the institution.