6. Consumer Skills

Major Purchases — Quiz

Test your understanding of major purchases with 5 practice questions.

Practice Questions

Question 1

Which of the following is an example of a hidden cost that might be part of the total cost of ownership for a car?

Question 2

You are considering buying a new smartphone for $800. The store offers a 5% discount if you pay in cash. What will the final price of the smartphone be after the discount?

Question 3

If you finance a $2,000 laptop with a 10% down payment and the remaining amount is financed through a loan, how much will you need to finance?

Question 4

Which of the following best describes the term 'interest' in the context of financing a major purchase?

Question 5

You are planning to buy a new refrigerator for $1,500. If the store offers a financing option with 0% interest for 12 months, how much will your monthly payment be if you pay it off evenly over the 12 months?