Team 1
0
Team 2
0
Teams
Name
Score
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Loading
15
×
amount you are borrowing
term
interest
principal
Oops!
Show
Check
Okay!
Check
15
×
If you purchase a $750 Playstation on a credit card and make the minimum payment, about how long will it take to pay it off?
1 year
2 years
3 months
over 5 years
Oops!
Show
Check
Okay!
Check
×
seesaw
Swap points!
Oops!
×
gift
Win 20 points!
Okay!
×
rocket
Go to first place!
Okay!
×
thief
Give points!
5
10
15
20
25
15
×
interest rate remains constant during the duration of the loan
fixed rate
variable rate
Oops!
Show
Check
Okay!
Check
15
×
Why might someone consider choosing a loan with the lowest monthly payment?
Low payments help you pay off your loan more quickly
Low payments eventually lead to lower total interest paid
Low payments fit better in their monthly budget
Low payments indicate a low interest rate
Oops!
Show
Check
Okay!
Check
×
trap
No points!
Oops!
×
rocket
Go to first place!
Okay!
×
gift
Win 20 points!
Okay!
×
banana
Go to last place!
Oops!
×
heart
Other team wins 15 points!
Oops!
×
fairy
Take points!
5
10
15
20
25
×
shark
Other team loses 10 points!
Okay!
×
lifesaver
Give 25 points!
Oops!
15
×
Each of the following represents an installment loan EXCEPTโฆ
student loan
auto loan
home mortgage
credit card
Oops!
Show
Check
Okay!
Check
×
thief
Give points!
5
10
15
20
25
×
magnet
Take 25 points!
Okay!
×
fairy
Take points!
5
10
15
20
25
×
thief
Give points!
5
10
15
20
25
15
×
interest rate can change during the duration of the loan
fixed rate
variable rate
Oops!
Show
Check
Okay!
Check
15
×
This type of loan does not require collateral so it is more risky for the lender
secured
unsecured
Oops!
Show
Check
Okay!
Check
15
×
Your credit score and the loan determine the interest rate that will be charged
True
False
Oops!
Show
Check
Okay!
Check
15
×
Someone who agrees to take on the repayment of the loan if it goes unpaid.
cosigner
bank
Oops!
Show
Check
Okay!
Check
15
×
the amount over which you pay back your principal and interest
term
interest
principal
Oops!
Show
Check
Okay!
Check
15
×
percentage you are being charged for the right to borrow the money
principal
term
interest
Oops!
Show
Check
Okay!
Check
15
×
Which word represents the total cost of the item youโre purchasing on credit minus any down payment you make upfront?
principal
APR
term
interest rate
Oops!
Show
Check
Okay!
Check
×
Restart
Review
Join for Free
;
Your experience on this site will be improved by allowing cookies.
Allow cookies