-You have just received a credit card solicitation in the mail that offers you a 4 percent APR. Your current card has an
Posted: Wed Mar 09, 2022 8:39 am
-You have just received a credit card solicitation in
the mail that offers you a 4 percent APR. Your current
card has an APR of 18 percent. How much interest will you
save the first month by switching cards, assuming you make no
additional charges and both cards calculate interest based on the
average daily balance of $6500.
$91.00
$97.50
$75.83
$910.00
-Your home is currently valued at $100000. You have a
first mortgage in the amount of $65000. If your lender applies
a 80 percent loan-to-value ratio for approving home
equity lines of credit, what is the maximum amount you can borrow,
assuming you meet all other lender requirements?
$15000
$20000
$35000
$28000
-For a $3400, 5-year 10% loan with monthly
payments, how much will you pay in total interest over the life of
the loan?
$934.40
$1700.00
$1084.56
$4334.40
the mail that offers you a 4 percent APR. Your current
card has an APR of 18 percent. How much interest will you
save the first month by switching cards, assuming you make no
additional charges and both cards calculate interest based on the
average daily balance of $6500.
$91.00
$97.50
$75.83
$910.00
-Your home is currently valued at $100000. You have a
first mortgage in the amount of $65000. If your lender applies
a 80 percent loan-to-value ratio for approving home
equity lines of credit, what is the maximum amount you can borrow,
assuming you meet all other lender requirements?
$15000
$20000
$35000
$28000
-For a $3400, 5-year 10% loan with monthly
payments, how much will you pay in total interest over the life of
the loan?
$934.40
$1700.00
$1084.56
$4334.40