Question 27 incorrect mark 000 out of 100 flag

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Question 27 Incorrect Mark 0.00 out of 1.00 Flag question Question text __________ __________ is used when a loan is repaid in a lump sum. Select one: 0 qaid=421976&qub 0 3 a. Simple discount b. Maturity discount c. Compound interest d. Simple interest Feedback The correct answer is: Simple interest 3
Question 28 Correct Mark 1.00 out of 1.00
Flag question Question text __________ is the percent of interest charged on a loan. Select one: 3 0 qaid=421977&qub 0
Question 29 Correct Mark 1.00 out of 1.00 Flag question Question text The simple interest rate on a 90-day, 8% loan can be restated as __________. Select one: 0 qaid=421978&qub 0 3
Question 30 Correct Mark 1.00 out of 1.00 Flag question Question text The amount of money borrowed is called: Select one: 3 0 qaid=421979&qub 0
Question 31 Correct Mark 1.00 out of 1.00 Flag question Question text 0 qaid=421980&qub 0 3
A patio furniture set sells for $935.00 on the installment plan which includes the finance charge. The payment plan calls for 15% down and the balance in 12 equal payments. The amount of each payment is: Select one: a. $89.60 b. $77.92 c. $66.23 d. $140.25 Feedback The correct answer is: $66.23
Question 32 Correct Mark 1.00 out of 1.00 Flag question Question text John purchased a new boat for $24,600.00. He put a $5,400.00 down payment on it. The bank's loan was for 60 months. Finance charges totaled $6,400.00. His monthly payment was: Select one: 0 qaid=421981&qub 0 3
Question 33 Correct Mark 1.00 out of 1.00
Flag question Question text The finance charge on a loan is equal to the total of the monthly payments: Select one: 0 qaid=421982&qub 0
Question 34 Correct Mark 1.00 out of 1.00 Flag question Question text The cost of an item if the full amount had been paid at the time of sale is called the: Select one:
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