Unit 12: Smart Spending Lesson 39: Automobiles—Lease Or Purchase? Module 130: Comparing Total Cost Of A Lease Vs. Purchase: Question Preview (ID: 26191)


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Your monthly lease payments are typically much ------.
a) lower
b) APR
c) Higher
d) Loan it

is a reduction in the value of an asset with the passage of time, due in particular to wear and tear. EX Car
a) Appreciation
b) Depreciate
c) APR
d) collateral

is a reduction in the value of an asset with the passage of time, due in particular to wear and tear. EX Car
a) Collateral
b) Appreciation
c) Depreciate
d) APR

The car is used as _______ the loan, so, if you miss a payment, the lender can take the car.
a) collateral
b) lower
c) Appreciation
d) Fun

Something given as security for repayment of a loan, example pawn shop.
a) APR
b) collateral
c) lower
d) fdic

When you lease a car, you are paying to
a) Own It
b) borrow it/RENT
c) collateral
d) Burn outs

When you get a car loan you will have to pay monthly payments plus _______
a) Depreciate
b) borrow it/RENT
c) interest charges
d) Appreciation

True cost of the loan. Include interest and all finance charges
a) APR
b) borrow it/RENT
c) Appreciation
d) Depreciate

is the increase in the value of an asset with the passage of time. ex house
a) Appreciation
b) Depreciate
c) APR
d) interest charges

The first step in the decision making process is to
a) Identify the alternatives
b) Identify the problem
c) Make a decision
d) Identify the criteria

Step 1: Determine the PROBLEM to be solved or choice to be made. Step 2: List the ALTERNATIVES. Step 3: Establish CRITERIA. Step 4: Use the criteria to EVALUATE each alternative. Step 5: Make your DECISION.
a) PACED Model
b) Make a decision
c) FDIC
d) collateral

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