CashCourse E~Scavenger Hunt First Round of Questions

3 Feb

www.purdue.edu/mymoney

Photo By: OpenSeaMap

Photo By: OpenSeaMap

Today start’s our E~Scavenger Hunt!  You can view rules and regulations in our previous article posting.  Participate and answer all questions correctly you can WIN A $50 AMAZON GIFT CARD!!

Today’s Questions are:

1.) When you use a credit card, the interest you owe each month is calculated based on your unpaid balance and what else?

a.Your FICO score

b. The next time it takes you to repay

c. The APR your lender charges

d. None of the above

 

2.) If you have a $3,000 balance on a credit card that charges 18 percent annually, how long would it take you to pay off the balance, assuming you made only the minimum payment of $60 every month?
a. 2 1/2 years

b. Almost 5 years

c. Almost 8 years

 

3.)Your credit score can affect your ability to:

a. Be approved for an apartment

b. Get a competitive rate on auto insurance

c. Both of the above

Amazon Gift Card

Photo By: Amazon

To find the answers you will need to create a user account at CashCourse.  Once you have entered CashCourse, you will be able to find the answers by browsing through CashCourse materials or by completing assignments in “My CashCourse Planner”.  In the assignments section of CashCourse you will need to choose a professor.  For all questions and assignments relating to the E~Scavenger Hunt, Brandon M. Endsley will be your professor.  You can send answers to Professor Endsley through email at mymoney@purdue.edu or Tweet your answers to @mymoneypurdue using #CashCourse.  You will have until midnight, February 28th to send in your answers.  Answers submitted after the deadline will not be accepted.

 

 

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