Consumer Math B exam 2024 with 100% correct answers

U1 L1- Secured Debt - correct answer A(n) ___ shows you the schedule of payments on a loan and the total interest and payments at the end of a loan - correct answer B. Amortization table Secured debts must have ____ - correct answer A. Collateral Using the table, where does the smallest change in interest rates between secured and unsecured occur? - correct answer A. At the excellent rating You are purchasing a car for $12,985.00 with the help of your parents. How much interest is saved in the first month using their good credit rating compared to your fair rating, using the table above? - correct answer C. $15.15 U1 L2- Unsecured Debt - correct answer An example of unsecured debt is ____ - correct answer A. Student loan Unsecured debt interest rates are usually ____ when compared to secured debt - correct answer A. Higher You have a student loan for $12,647.00. What number is the rate multiplier in the l= Prt formula if you have an average credit rating? - correct answer D. 0.0780 Your parents purchased a mobile home for $84,505.00 and secure it to the ground. If they have an excellent credit rating and using the table, how much is the interest rate at the end of the first month? - correct an