1. The Federal Deposit Insurance Corporation (FDIC) insures accounts in

a.commercial banks and credit unions.

b.brokerage companies.

c.credit unions.

d.commercial banks.

2.What should installment loan lenders disclose to credit applicants?

a.The finance charge expressed in dollars, only.

b.The interest rate expressed as an annual percentage rate (APR), only.

c.The interest rate (as an APR) and the finance charge (in dollars).

d.Neither the interest rate (as an APR) nor the finance charge (in dollars).

3.

On January 1, Pablo borrows $5,000 with a fixed interest rate on the loan of 10% and a loan term of 2 years. He will be making monthly payments of $230.72. How much of Pablo's fifth loan payment would be principal?

a.$190.63.

b.$192.22.

c.$195.43.

d.$193.82.