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by BlastRoom
Use APR and statement information to calculate the cost of carrying a card balance.
#us_hs_economics
25 questions
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Ava carries a $1,200 balance at an 18% APR. Interest is charged monthly at one twelfth of the APR. How much interest is added this month?
Ben has a $500 card balance at a 24% APR, with interest charged monthly at one twelfth of the APR. What is this month's interest charge?
Cora carries $900 at a 16% APR. Using a monthly rate of one twelfth of the APR, what interest is charged for one month?
Diego has a $1,500 balance at a 12% APR. If interest is calculated monthly, how much interest is added this month?
Elena carries a $2,400 balance at a 21% APR. Interest is charged monthly at one twelfth of the APR. What is the monthly interest?
Frank owes $750 on a card with a 28.8% APR. The issuer uses one twelfth of the APR each month. How much interest is charged this month?
Gia carries a $3,200 balance at a 15% APR. If the monthly periodic rate is one twelfth of the APR, what interest is added this month?
Use the statement summary. What belongs on the new balance line?
A card statement lists the amounts shown. What is the new balance?
Use the statement summary. What is the new balance?
Harper's card statement shows her previous balance, payment, and interest. Which new balance is correct?
Use the statement summary. What should the new balance be?
The card statement shows a previous balance, a payment, and an interest charge. What amount belongs on the new balance line?
Tomas's monthly card summary shows his balance, APR, interest, and minimum payment. How does his balance change that month?
Mina's monthly card summary gives her balance, APR, monthly interest, and minimum payment. What happens to the balance that month?
Noah's monthly card summary shows his balance, APR, interest charge, and minimum payment. What happens to his balance that month?
Priya's monthly card summary lists her balance, APR, interest, and payment. What happens to her balance that month?
Quinn owes $1,500 at a 12% APR. The monthly interest is $15 and the minimum payment is $40. By how much does the balance decrease that month?
Riley owes $400 at a 36% APR. Monthly interest is $12, and the minimum payment is $20. What is the balance change for that month?
Sofia has a $1,000 credit limit and a $300 balance, so her balance equals 30% of her limit. What is this percentage called?
A student buys a $900 laptop with a card, repays $100, and can borrow up to the limit again. What type of credit does this describe?
A card issuer charges Jordan $95 just to keep the account open, even when Jordan carries no balance. What is this charge called?
Leah pays her full statement balance by the due date every month and is not charged interest on purchases. Which card feature is she using?
Marcus puts his credit card into an ATM and takes out $100 in bills. What type of credit card transaction is this?
A card disclosure states the yearly cost of carrying a balance as 22.9%. What term names this yearly rate?
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Loans, Debt and Paying It Off
25 questions
