WA TRIVIA
What year was WA founded?
1834
If the monthly interest rate on a credit card is p percent, express the APR algebraically.
12p
The APR on Ramona’s credit card is currently 24.6%. What is the monthly periodic rate?
2.05%
Tomika’s credit rating was lowered, and the credit card company raised her APR from 18% to 25.2%. If her average daily balance this month is $8,237, what is the increase in this month’s finance charge due to the higher APR?
$49.42
TRUE OR FALSE: A FICO score is named after its creator, Fair, Isaac, and Company. It summarizes the probability that a person with debt will repay that debt.
True
Name 3 of the 6 historic landmarks on WA's campus.
Walker Hall
Megaron
Adams Hall
Dexter Hall
Kingsley Laboratories
Daniels Gymnasium
If the APR on a credit card is 22.2%, what is the monthly interest rate?
1.85%
Sheila’s monthly periodic rate is 2.41%. What is her APR?
28.92%
TRUE OR FALSE: Last month, the ending balance on Maryanne’s MasterCard was $1,789, the average daily balance was $755, and the monthly periodic rate is 1.85%. Therefore, the finance charge is $1,789 x 0.0185 = $33.10
FALSE
Monique purchases a $5,100 dining room set. She can’t afford to pay cash, so she uses the installment plan, which requires an 18% down payment. How much is the down payment?
$918
What was WA's original name?
Worcester County Manual Labor High School
Mr. Kramden’s credit card was lost on a vacation. He immediately reported it missing. The person who found it days later used it and charged $4,500 worth of merchandise on the card. How much of the c dollars is Mr. Kramden responsible for paying?
$0
Lizzy has a credit line of $9,000 on her credit card. Her summary is shown. What is her available credit balance?
Previous Balance: $6,500.56
Payments/Credits: $5,200.00
Transactions: $978.45
Late Charge: $20.00
Finance Charge: $12.88
$6,688.11
Mr. Reis had these daily balances on his credit card for his last billing period. He did not pay the card in full the previous month, so he will have to pay a finance charge. The APR is 19.8%. What is his average daily balance?
six days @ $341.22
ten days @ $987.45
three days @ $2,122.33
eleven days @ $2,310.10
$1,456.66
Shania bought a $1,972 drum set on the installment plan. The installment agreement included a 20% down payment and 36 monthly payments of $52.04 each. What is the finance charge?
$295.84
This WA Alum (Class of 1873) was a co-founder of the Wall Street Journal.
Edward Jones
Mrs. Cykman’s credit card was stolen, and she did not realize it for several days. The thief charged a $440 watch while using it. According to the Truth-in-Lending Act, at most how much of this is Mrs. Cykman responsible for paying?
$50
Marianne has a credit card with a line of credit at $15,000. She made the following purchases: $1,374.90, $266.21, 39.46, and $903.01. What is Marianne’s available credit?
$12,416.42
Mike Bauer had a daily balance of x dollars for d days, y dollars for 9 days, r dollars for 4 days, and m dollars for 5 days. Express his average daily balance algebraically.
(dx + 9y + 4r + 5m) / (18 + d)
The White family purchases a new pool table on a no-interest-for-one-year plan. The cost is $2,665. There is a d dollars down payment. If they make a minimum monthly payment of m dollars until the last month, express their last month’s payment algebraically.
2,665 – d – 11m
This WA Alum is from the Class of 2012 and notably played wide receiver at the University of Virginia before playing in the NFL.
Canaan Severin (also a current member of the Board of Trustees)
Linda and Rob charged a $67.44 restaurant bill on their credit card. They gave the card to the waitress, who accidentally transposed two digits and charged them $76.44. They did not notice this until they received their statement later that month. How much were they overcharged?
$9
The summary portion of Manny Ramira’s credit card statement is below. Determine the new balance amount.
Previous Balance: $1,237.56
Payments/Credits: $1,200.00
Transactions: $2,560.67
Late Charge: $0.00
Finance Charge: $9.56
$2,607.79
Brett was given a card with an APR of 12.6%. Andy was given a card with an APR of 16.2%. If each of them had an average daily balance of $7,980, and had to pay a finance charge for that month, how much more would Andy pay than Brett?
$23.94
Phil has been accepted into a 2-year program at a career school. He has been awarded a $9000 unsubsidized 10-year federal loan at 4.29%. He knows that interest will accrue at 4.29% during the nonpayment time. If Phil decides to make no payments during the 2.5 years, what is the new principal?
$9,965.25