Credit Basics
Mortgages & Loans
Credit Cards
Finance Charge Calculations
Mrs. Strause Facts
100
The dollar amount for a 10% down payment on a $2050 purchase.
What is $2050 x 0.10 = $205?
100
The three pieces of information you need to find the monthly payment on a loan.
What are the Principal/loan amount (P), interest rate % (r), and the time in years (t)?
100
The usual maximum amount a cardholder is typically responsible for if a credit card is stolen and used fraudulently before you report it.
What is $50?
100
What APR stands for.
What is Annual Percentage Rate?
100
Mrs. Strause's favorite type of shoe
What are Crocs?
200
The total monthly payments after Alfred pays $115 a month for 18 months for a water heater.
What is $115 x $18 = $2070?
200
The first step to convert an interest rate % to use as a decimal in a formula.
What is the % divided by 100?
200
The amount you would be responsible paying for if a thief steals a your credit card and charges $200 before you report it stolen.
What is $50?
200
The formula to calculate a finance charge for a payment plan.
What is (down payment) + (monthly payments) - (price)?
200
Mrs. Strause's favorite color
What is purple?
300
The finance charge Alfred pays after making a 10% down payment on a $2050 water heater and monthly payments of $115 for 18 months.
What is $205 + $2070 - $2050 = $225?
300
The principal amount you would use if you are calculating the monthly payment for a mortgage of $350,000 with a $50,000 down payment.
What is $350,000 - $50,000 = $300,000?
300
The amount Dan is responsible for paying for if his credit card information was stolen online and charged $1000.
What is $0?
300
The formula for a finance charge for a credit card.
What is (Average Daily Balance) x (APR% / 12)
300
Mrs. Strause's favorite music artist(s).
Who are Harry Styles and/or Beyonce?
400
The total amount Alfred pays after making a 10% down payment on a $2050 water heater and monthly payments of $115 for 18 months.
What is $2050 + $225 = $2275?
400
The formula to calculate a monthly payment for a loan?
What is 
?
400
The amount you would be responsible paying for if a thief steals a your credit card and charges $200 after you report it stolen.
What is $0?
400
The formula to calculate the Average Daily Balance.
What is the sum of (# of days)x(balance) / (total # of days)?
400
The place Mrs. Strause is from.
Where is Arizona?
500
The definition of a finance charge.
What is the amount extra you pay from the original price?
500
The monthly payment for a $270,000 loan with 3.8% interest for 20 years.
What is $1607.83 (ish)?
500
The amount you would be responsible for paying if a thief steals your credit card and charges $2500 given you DID NOT report it stolen.
What is $2500?
500
Alberto's Average Daily Balance given the following balances: 15 days at $315.64, 11 days at $515.64, and 2 days at $580.32.
What is $385.58?
500
Mrs. Strause's birthday.
What is October 9th?