Remember: A minimum payment is the least a bank accepts. It barely cuts what is owed.
Questions
1
Pia pays only the minimum on forty owed. Which leaves thirty-eight owed?
after five months of minimumsafter four months of minimumsafter two months of minimums
2
Pia pays only the minimum on forty owed. Does after three months of minimums leave thirty-seven owed?
YesNo
3
Pia pays only the minimum on forty owed. Which leaves thirty-six owed?
after three months of minimumsafter four months of minimumsafter two months of minimums
4
Which one is not true about a minimum payment?
🤝keeping the card in good standing🚪the least the bank accepts🏁the payment that clears the debt
5
Pia pays only the minimum on forty owed. Which leaves thirty-four owed?
after four months of minimumsafter six months of minimumsafter two months of minimums
6
Which one is true about a minimum payment?
🏁the payment that clears the debt📅a plan to be debt-free by a date➕mostly the extra at the start
7
Pia owes forty coins. One extra coin is added for every full ten owed. Does paying eight a month clear it in seven months?
YesNo
8
Pia owes forty coins. One extra coin is added for every full ten owed. Which plan clears it in forty months?
🐌paying the minimum onlypaying twelve a monthpaying twenty a month
9
Pia owes forty coins. One extra coin is added for every full ten owed. Which plan clears it in five months?
paying twenty a monthpaying eight a monthpaying twelve a month
10
Pia owes forty coins. One extra coin is added for every full ten owed. Does paying twenty a month clear it in seven months?
YesNo
11
Pia pays only the minimum on forty owed. Does after five months of minimums leave thirty-seven owed?
YesNo
12
Which one is true about a minimum payment?
📅a plan to be debt-free by a date🏁the payment that clears the debt🤝keeping the card in good standing
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Answer key · Set B
The minimum payment trap
1after two months of minimums
2Yes
3after four months of minimums
4the payment that clears the debt
5after six months of minimums
6mostly the extra at the start
7Yes
8paying the minimum only
9paying twelve a month
10No
11No
12keeping the card in good standing
Mark each answer, count the right ones and write the score on the sheet.