Test 4-2 Review

Question 1

Ben uses FAFSA to get a loan for $45,000 to offset the cost of college. This is an example of:

Accepted Answer

investing in yourself

Question 2

What is the loan term?

Accepted Answer

the amount of time you have to repay a loan

Question 3

John goes to Chase and gets a car loan for 48 months with an APR of 5.12%. This is ...

Accepted Answer

a common small loan

Question 4

What best describes an easy access loan?

Accepted Answer

a loan with a very high interest rate, title loan/payday loan, pure craziness

Question 5

Find the volume of a cylinder with a diameter of 8 and height of 6.

Accepted Answer

301.44 u3

Question 6

BJ goes to his bank's website and pays a bill. He is using:

Accepted Answer

online banking

Question 7

On the 15th of every month Sam goes to the bank, makes a withdrawal and pays a bill. He uses -

Accepted Answer

cash

Question 8

APR stands for ...

Accepted Answer

Annual Percentage Rate

Question 9

The higher the interest rate ...

Accepted Answer

the more interest you pay

Question 10

Philip found "B" for this shape by calculating "5 x 7". What mistake did he make?

Accepted Answer

He thought the base was a rectangle

Question 11

How are loans different from scholarships and grants?

Accepted Answer

you have to pay them back

Question 12

Sara borrowed $5,000 over 5 years. Neeha borrowed $5,000 over 3 years. Which is not true?

Accepted Answer

Neeha will pay more interest

Question 13

In S = 2B + Ph and L = Ph, h stands for ...

Accepted Answer

height of the figure

Question 14

Interest that is paid on the amount deposited and interest earned

Accepted Answer

compound interest

Question 15

How can you identify the height of a prism?

Accepted Answer

it is the length that connects the two bases

Question 16

"B" stands for ...

Accepted Answer

the area of the base shape

Question 17

What is a trade-off?

Accepted Answer

finding a cheaper alternative to buying what I want

Question 18

To buy clothes, you slide a card through the card reader and enter a special code. This is:

Accepted Answer

an ATM or debit

Question 19

If you pay off the entire balance on your credit card each month, you should get a card with:

Accepted Answer

low fees

Question 20

How many "heights" are there in a triangular prism?

Accepted Answer

2

Question 21

What does a bank look for when deciding if they will give you a loan?

Accepted Answer

all of the above

Question 22

Find the volume of this composite figure.

Accepted Answer

1745.92

Question 23

Find the simple interest for $750 borrowed for 3 years at an interest rate of 12%

Accepted Answer

$270

Question 24

What is a type of financial aid for college?

Accepted Answer

all of the above

Question 25

What is the initial amount of money that is deposited in an account?

Accepted Answer

principal

Question 26

If you plan to carry a balance on your credit card each month, you should get a card with:

Accepted Answer

a low interest rate

Question 27

Sappy's rent is due, but she decides to buy a pair of hot new shoes instead. This is ...

Accepted Answer

impulse spending

Question 28

Interest that is only paid on the amount deposited

Accepted Answer

simple interest

Question 29

What is the shape of the base of this figure?

Accepted Answer

triangle

Question 30

What did you learn about the relationship between education and unemployment?

Accepted Answer

they have an negative correlation

Question 31

Happy automatically sweeps $50 from her paycheck every month. This is best described by ...

Accepted Answer

pay yourself first

Question 32

John gets a monthly bill showing his purchases. He is using a:

Accepted Answer

credit card

Question 33

"P" stands for ...

Accepted Answer

perimeter of the base shape

Question 34

The price the financial institution pays for using a saver's money

Accepted Answer

interest

Question 35

A savings account of $6,600 for 7 years, compounded annually at 5%.

Accepted Answer

$9287

Test 4-2 Review

Questions 35

Test 4-2 Review

Questions 35