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Q 1/22
Score 0
Bob received a credit card statement that has a new balance of $650.45 and a minimum payment of $27.80. Bob makes only the minimum payment. He makes no other purchases.
What will be the unpaid balance?
300
$622.65
Q 2/22
Score 0
Leanne received a credit card statement that has a new balance of $1365.23 and a minimum payment of $57.20. The annual percent rate is 19.1% compounded daily and charged on the unpaid balance. Leanne makes only the minimum payment. She makes no other purchases.
How much interest will Leanne be charged on the next statement in 31 days?
300
$21.39
22 questions
Q.
Bob received a credit card statement that has a new balance of $650.45 and a minimum payment of $27.80. Bob makes only the minimum payment. He makes no other purchases.
What will be the unpaid balance?
1
300 sec
Q.
Leanne received a credit card statement that has a new balance of $1365.23 and a minimum payment of $57.20. The annual percent rate is 19.1% compounded daily and charged on the unpaid balance. Leanne makes only the minimum payment. She makes no other purchases.
How much interest will Leanne be charged on the next statement in 31 days?
2
300 sec
Q.
Shelia owes $650.36 on her MasterCard which has an APR of 19.97%, and has a grace period of 20 days. She is 88 days overdue. On her MasterCard interest is compounded daily.
How much interest does she owe all together?
3
300 sec
Q.
On a MasterCard (APR 19.97%), interest is compounded daily. What interest is owed on a balance of $1200 that is 60 days overdue with a grace period 0f 21 days?
4
300 sec
Q.
A credit card statement that has a new balance of $750 and a minimum payment of $35.00. The annual percent rate is 19.97% compounded daily and charged on the unpaid balance. The grace period is 21 days. You have not paid the balance for 45 days in total. How much do you now owe the Credit Card company?
5
300 sec
Q.
A credit card statement that has a new balance of $750 and a minimum payment of $35.00. The annual percent rate is 19.97% compounded daily and charged on the unpaid balance. The grace period is 21 days. You have not paid the balance for 45 days in total. How much INTEREST do you now owe the Credit Card company?
6
300 sec
Q.
Susan received a credit card statement that has a new balance of $1250.00 and a minimum payment of $36.20. The annual percent rate is 19.95% compounded daily and charged on the unpaid balance. Susan makes only the minimum payment. She makes no other purchases. What is Susan's balance after the payment?
7
300 sec
Q.
Susan received a credit card statement that has a balance of $1213.80. The annual percent rate is 19.95% compounded daily and charged on the unpaid balance. Susan is 28 days past the grace period. How much does she owe the credit card company after the 28 days?
8
300 sec
Q.
If you calculate the amount owing as $1875.36 and you originaly owed $1805.00, how much of the amount owing is interest?
9
300 sec
Q.
What is a credit on a credit card statement?
10
30 sec
Q.
A Canadian Tire credit card is an example of a __________ card.
11
30 sec
Q.
A revolving balance is?
12
30 sec
Q.
Rob is unemployed and would like a credit card. Which credit card would you recommend for him?
13
30 sec
Q.
Which of the following is not an advantage of a credit card
14
30 sec
Q.
A plastic card used to make purchases now and pay for them later.
15
30 sec
Q.
A sum paid or charged for the use of money or for borrowing money
16
30 sec
Q.
annual interest rate
17
30 sec
Q.
the result of the credit card company not receiving and posting the payment on the due date
18
30 sec
Q.
The smallest required payment that a credit card holder can pay on a monthly bill and still remain in good standing with the lender.
19
30 sec
Q.
A type of credit card that is backed by a savings account used as collateral on the credit available with the card.
20
30 sec
Q.
A time period during which no finance charges will be added to your account
21
30 sec
Q.
An amount that credit card companies can charge for the use of a credit card.
