College Gold Quiz

1. Think you understand how interest affects a loan? Answer this multiple choice question:

The total amount paid back (both principal and interest) for a $10,000 loan with a 10-year term at 10% interest is:

A. $1,000
B. $11,000
C. $15,858
D. $18,100
E. $20,000
F. $32,479

2. Which is cheaper?

Loan with 4% fee & 9% interest rate
Loan with 5% fee & 8% interest rate

3. Which is a better interest rate:

Prime + 0%
LIBOR + 2.75%

Test your knowledge with the College Gold Quiz.
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