1. Which of the following is not a long term debt?
2. Paying off your credit card each month
3. Taking out a 15 year fixed rate mortgage
4. Financing an automobile purchase with a 36 month loan
5. Financing your college education with a 30 year loan

4 points

QUESTION 3

1. Which of the following is a long term debt?
2. utility bill
3. mortgage
4. gym membership
5. all of the above

4 points

QUESTION 4

1. Which of the following finance options requires the most debt obligation to the person taking it?
2. scholarship
3. grant
4. loan

4 points

QUESTION 5

1. Suzanne is in medical school and plans to finance her entire medical schooling through loans. Which of the following scenarios would most likely apply to her?
2. $100,000 loan for medical school
3. $10,000 loan for medical school
4. $5,000 loan for medical school