Interest Rates Quick Check
1 of 31 of 3 Items
Feature
CAR FINANCING FOR LESS
2-YEAR TERM
UP TO $40,000
6% COMPOUNDED ANNUALLY WITH A $500 UP-FRONT PAYMENT
Question
What part of the offered deal is the interest rate?
(1 point)
Responses
2 YEAR TERM
2 YEAR TERM
UP TO $40,000
UP TO $40,000
6% COMPOUNDED ANNUALLY
6% COMPOUNDED ANNUALLY
$500 UP-FRONT PAYMENT
$500 UP-FRONT PAYMENT
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The interest rate in the offered deal is 6% compounded annually.
In which economic situation would interest rates decrease?
(1 point)
Responses
Most people are saving rather than buying houses.
Most people are saving rather than buying houses.
Average families are choosing to invest in new businesses.
Average families are choosing to invest in new businesses.
High consumption is driving a surge in the services sector.
High consumption is driving a surge in the services sector.
Increased job stability is encouraging workers to make big purchases.
Most people are saving rather than buying houses.
Maria Ivanov has owned a successful clothing boutique chain for 20 years. She has gone into debt several times to expand her business. Each time, she paid off the debt in full sooner than expected.
Question
Use the scenario to answer the question.
How will Maria’s record affect the loans she is offered?
(1 point)
Responses
She will be offered longer terms.
She will be offered longer terms.
She will be offered shorter terms.
She will be offered shorter terms.
She will be offered lower interest rates.
She will be offered lower interest rates.
She will be offered higher interest rates.