1 year ago


$7.50 $9.00 $11.25

$7.50 $9.00 $11.25 $13.25 $16.50 Question 16. Question : (TCO 3) Jerry Dean starts the month with a balance of $1,500 on his credit card. On the 10th day of the month, he purchases $200 in clothes with his credit card. On the 15th day of the month, he makes a payment on his credit card of $500. The average daily balance for the month including the new purchase is $883. The average daily balance for the month excluding the new purchase is $750. Jerry’s interest rate is 1.5% for the month. Jerry’s bank calculates the finance charge on the credit card by using the previous balance method. What would Jerry’s finance charges be for the month? $7.50 $13.25 $15.00 $22.50 $18.00 Question 17. Question : (TCO 3) If Jeff rushes to purchase a home by obtaining an interest-only loan, and the reason why he wants a home is because he wants to have a house just like the one that his parents had when he was a teenager, this is an example of which of the following? Misunderstanding or lack of communication The use of money to punish Overindulgence of children Keeping up with the Joneses The expectation of instant comfort Question 18. Question : (TCO 3) Steve has three children and has purchased each of them his or her own TV that is placed in his or her respective room. Which reason for indebtedness is this an example of? Misunderstanding or lack of communication Overindulgence of children The expectation of instant comfort Keeping up with the Joneses The use of money to punish Question 19. Question : (TCO 3) _____ families rely heaviest on student loans to finance college. Low-income Middle-income High-income Large Small

Question 20. Question : (TCO 3) If Tracy Sears borrows $1,250 for 1 year with an APR of 9% with no service fees, what is her total cost of credit? $125 $112.50 $7.50 $9.38 $0 BUSN 380 DeVry Week 4 Quiz Latest 1. Question : (TCO 5) Which of the following statements is false? No one is going to make you save the money; you need to start a program. To be useful, investment objectives must be very specific. Investment goals can be different for each individual. Because investment objectives deal with the future, it is useful to plan more than 5 years in the future. A long-term investment objective involves a time period of 2 years or less. Question 2. Question : (TCO 5) If an investment objective is considered to be long term, then this means the goal should be achieved in what time frame? Less than 2 years In 2–5 years More than 5 years Less than 1 year None of the above Question 3. Question : (TCO 5) You currently hold a $1,000 corporate bond; however, if interest rates in the overall economy decrease, which of the following is most likely to be the market value of this bond? The bond is worthless. $1,000 $900 $1,100 It is impossible to determine whether the bond’s value will increase or decrease. Question 4. Question : (TCO 5) Which of the following individuals should have the highest tolerance for risk? Joan Cummings, who is a single mother with two small children Darren Carter, who works for American Airlines and is worried that he is going to be laid off soon Barry Parks, who is an investment banker and earns over $200,000 per year Michael Clark, who is 74 years old and been retired for 6 years Fred Funderbunk, who delivers pizzas and makes about $15,000 per year

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