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Low-income
Middle-income
High-incomeLargeSmall
Question 20. Question : (TCO 3) If Tracy Sears borrows $1,250 for 1
year with an APR of 9% with no service fees, what is her total cost of
credit?
$125
$112.50
$7.50
$9.38
$0
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BUSN 380 Week 3 Quiz Set 2

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1. (TCO 3) _____ 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