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by BlastRoom
Who lends, why they lend, and what a borrower pays for the privilege.
#us_hs_personal_finance
25 questions
One question set, multiple game modes. Tap any game to see it in action. Not sure which to pick?
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The class blasts through walls together.
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Sell tours. Nice, standard, or a total scam.
Answer, restock, and serve the rush.
More correct answers pulls the rope your way.
Answer, then shoot down the alien wave.
Answer, then tap to leap the frozen ridge.
What does it mean when a lender extends credit to Jordan?
Mina borrows $2,400 to buy a laptop. She repays a total of $2,640, which includes $240 in interest. What is the principal of this loan?
A lender charges Devon $35 above the amount Devon borrowed. What is that extra $35 called?
Why do lenders commonly charge interest or fees when they make loans?
What does an annual percentage rate (APR) communicate to a borrower?
A borrower agrees to repay a $3,600 loan in 24 equal monthly payments. What does the 24-month term describe?
Priya receives $1,200 and must make 12 fixed monthly payments. Is this installment credit or revolving credit?
A loan requires Mateo to pledge his motorcycle, which the lender may take if he defaults. Is the loan secured or unsecured?
A borrower receives $500 and later repays $550. What is the cost of this credit?
Nia borrows $1,000 and repays $90 each month for 12 months. What is the cost of the credit?
A one-year loan has a $600 principal and a stated 10% APR. Assuming simple interest and no fees, how much interest is charged for the year?
A cardholder pays $18 in interest and a $30 annual fee during the year. What is the total cost of credit from those charges?
A car costs $18,000. Eli makes a $2,000 down payment and finances the rest. What amount is financed?
After a $2,000 down payment, Eli finances $16,000 and makes 48 payments of $400. What is the finance charge on the loan?
Lena has an $850 card balance. A $25 finance charge is added, then she pays $95. What is her new balance?
A cash advance gives Omar $200, charges a $10 fee, and adds $4 in interest. What is Omar's total borrowing cost?
A monthly loan payment is $400. Of that payment, $30 is interest. How much reduces the principal balance?
Loan A: borrow $1,000 and repay 12 payments of $90. Loan B: borrow $1,000 and repay 12 payments of $88. Which loan has the lower total borrowing cost?
A dealership sells Ari a car, but a bank sends the purchase funds and collects Ari's monthly payments. Who is the creditor?
A card issuer approves Sofia for a store card, sends monthly statements, and collects payments. What is the issuer's role?
A credit union lends Marcus $8,000 for a used car and holds a lien on the car. What does the credit union provide?
Rina buys a home from Mr. Lee. A mortgage company pays Mr. Lee $220,000, and Rina repays the company each month. Which party is the borrower?
A personal-loan company approves Jamal for $3,000 and requires monthly repayment. What is the company's main role in this agreement?
A buy now, pay later company pays a merchant for Tessa's purchase, and Tessa repays the company in four payments. Who extended credit to Tessa?
Noah cannot qualify alone, so his aunt signs the loan and promises to repay if Noah does not. What role does his aunt have?
Crack the passcode before the zombies get in.
Answer, then swat bugs for bonus points.
Race through questions at your own speed.
Same question on every screen. Fastest wins.
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Secured, Unsecured and Collateral
25 questions
