BUSN 380 STUDY Career Path Begins/busn380study.com BUSN 380 STUDY Career Path Begins/busn380study.com | Page 52

Relative
Finance company
Question 20. 20. (TCO 3) If Marjorie Wilcox borrows $200 for 1 year
with an APR of 12% and an annual service fee of $10, what is her
total cost of credit?
$10
$12
$24
$34
$42
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BUSN 380 Week 3 Quiz Set 3

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1. _____ is a good example of a closed-end credit.
A credit card issued by a department store
A credit card issued by VISA or MasterCard
A mortgage loan
Using a cashier's check to pay for a purchase
Using overdraft protection at a bank