Question

I need consumer math help!!!!!

1. A house is used as for a loan (1point)
a)an asset
b)security
c)insurance
d)collateral
2.Most credit cards are debt. (1point)
a)unsecured
b)secured
c)collateral
d)relaized
3.You have a balance of $1,678.00 on a credit card with a 15.75% APR. How much intrest is accured if you pay nothing on the principal after 3 months?
a)$22.02
b)$66.07
c)$264.29
d)$88.10
4.you carry a balance of $2,065.00 on a credit card at a 17.25% APR for 5 months. How much is your total payment by the fifth month? (1point)
a)$2,094.68
b)$2,213.42
c)$2,421.21,

Answer 1

1.D) collateral

2.A.) Most credit cards are unsecured debt

3.B.)$66.07

4.B.) 2,213.42

4/4 100%

HOPE I HELP I HAVE A NICE DAY

Answer 2

1. d) collateral

2. a) unsecured

3. The interest will be ((1 +.1575/12)^3 -1)*1678 ≈ 66.94. The 2nd selection is the best choice here: b) $66.07

4. The balance will be (1 +.1725/12)^5*2065 ≈ 2217.75. The 2nd selection is the best choice here: b) $2213.42

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The answer choices offered in your problems cannot be reproduced without incorrectly rounding interest values used in intermediate calculations.