# Repaying Credit Cards and Loans

## Quiz by Vicky Ruiz

Mathematics
Texas Essential Knowledge and Skills (TEKS)

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5 questions
• Q1
Use an online calculator to find the cost of a \$500 loan for 12 months at 18% interest per year.
\$45.84
\$50.08
\$550.08
\$8.50
30s
8.12.A: Personal Financial Literacy
• Q2
Use an online calculator to find the cost of a \$500 loan for 12 months at 8% interest per year.
\$21.93
\$521.93
\$50.08
\$43.49
30s
8.12.A: Personal Financial Literacy
• Q3
Use an online calculator to find the cost of a \$3000 loan at 12% interest per year for 6 months
\$105.87
\$58.65
\$105.87
\$517.65
30s
8.12.A: Personal Financial Literacy
• Q4
Use an online calculator to find the cost of a \$3000 loan at 12% interest per year for 5 years?
\$66.73
\$90.60
\$1,004.00
\$4,004.00
30s
8.12.A: Personal Financial Literacy
• Q5
How much does it cost to borrow money?
Depends on how much interest you pay
Twice as much as you borrow
Depend on how much interest you pay and how long it takes to pay off your loan
Nothing
30s
8.12.A: Personal Financial Literacy

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