33.

Andy has a previous balance of $1,283 on a credit card with a 21.3% APR compounded monthly. If he made a payment of $62 this month, what is the new balance on his credit card? (3 points)

	$1,494.28
	$1,221.00
	$1,556.28
	$1,243.77

34.

Ashley uses her credit card to buy some clothes for $531.29. She can pay off up to $185 per month. The card has an annual rate of 14.8% compounded monthly. How much total interest will she pay? (4 points)

	$6.31
	$15.68
	$6.55
	$13.02

35.

Nancy uses a credit card with a 20.1% APR, compounded monthly, to pay for a hotel stay totaling $891.05. She can pay $350 per month on the card. What will the total cost of this purchase be? (4 points)

	$1,070.15
	$891.05
	$918.90
	$1,109.95

36.

In which situation would it be better to use a credit card instead of cash? (3 points)

	going out to dinner
	purchasing movie tickets
	purchasing gasoline
	making hotel reservations

37.

Angelica has opened two credit cards in the last year. Use the information on each credit card located in the table below to answer the question that follows.

Account Name	Account Number	Date Opened	Balance	Past Due	Account Status	Credit Limit
Credit Card A	xxxx	5/8/10	$9,208.32	$0.00	PAYS AS AGREED	$18,000
Credit Card B	xxxx	6/30/10	$2,931.20	$0.00	PAYS AS AGREED	$9,500

What is Angelica's overall debt-to-credit ratio? (4 points)

	44%
	82%
	31%
	51%

38.

Debbie is curious about her credit score. Which scenario will most negatively impact a credit score? (3 points)

	consistently making late payments
	applying for many different credit cards
	keeping a high balance on her credit cards
	having a short credit history

39.

Use the table below showing the different types of checking accounts a bank offers to answer the question that follows.

	Electronic Banking	Standard Checking	Combo (Checking and Savings)	High Balance
Opening Deposit Requirement	$25	$25	$125	$100
Minimum Balance Requirement	none	none	none	none
Debit Card	yes	yes	yes	yes
Earn Interest on Checking				yes
Free Checks				yes
Account Alerts	yes	yes	yes	yes
Free Online Bill Pay	yes		yes	yes
Linked with Savings			yes	yes
Monthly Fee	$8.95 per month unless deposits and withdrawals are made at ATM and you receive monthly statements online	$8.95 per month unless you make direct deposits each statement period or maintain a $1,500 per month balance	$8.95 per month unless you make direct deposits or maintain a combined balance of $1,500 in both accounts.	$20 per month unless you maintain a combined balance of $15,000.

Barbara has $150 to open a checking account. Her employer will send her paycheck via direct deposit. She wants to save up for a cruise next summer. Which account is the best choice for Barbara? (3 points)

	Electronic Banking
	Standard Checking
	Combo (Checking and Savings)
	High Balance

40.

Roberta owes $7,312 on a credit card with a 26.2% interest rate compounded monthly. What monthly payment should she make to pay off this debt in five years, assuming she does not charge any more purchases with the card? (4 points)

	$219.79
	$121.87
	$1,923.06
	$699.58