Quiz: Can You Spot the Better Deal?
Can You Spot the Better Deal?
By: Staff
Image: refer to hsw

About This Quiz

Which credit card offers the best deal? Should you take the cash rebate on the new car or the low interest rate? You are bombarded with confusing financial questions every day. Here are 20 more.

2.0 of 20
Bob is 30 and expects to be in a higher tax bracket by the time he retires. Which is the better deal for Bob: to invest in a traditional IRA or a Roth IRA?
3.0 of 20
Nancy only has $5 in her checking account, but she wants to buy a $20 skirt. Which is the better deal: write a $20 check and let it bounce or take out a payday loan and repay it in two weeks?
4.0 of 20
5.0 of 20
Which is the better deal: Signing up for a credit card with an advertised APR of 12 percent or a card with an APY of 12.34 percent? (Both cards compound interest monthly).
6.0 of 20
Which is the better deal: Investing in an IRA or investing in a 401(k)?
7.0 of 20
Steve has an extra $1,000 and wants to pay down some debt. Should he pay down his $200,000 mortgage (3 percent APR) or pay down his $10,000 credit card debt (17 percent APR)?
9.0 of 20
Let's say you have a 30-year $200,000 mortgage at an interest rate of 6.5 percent, giving you a monthly payment of $1,264. Your mortgage broker encourages you to make one extra mortgage payment each year to lower the principal faster. If you do that, which number will be larger: the total amount you'll save in interest over the life of the loan, or a winning lottery ticket worth $50,000?
10.0 of 20
What time of year are you more likely to get the best deal on a new car or truck?
11.0 of 20
Sally has a credit card debt of $10,000 at an interest rate of 17 percent annually. She’s been paying the minimum every month, but it’s taking forever to make a dent. What would be the best way to pay it off?
12.0 of 20
What is the best month to make an offer on a house?
13.0 of 20
14.0 of 20
If you are looking for the cheapest airline tickets, what is the best day to fly?
15.0 of 20
You are clothes shopping and comparing the sales at two competing stores. Clothes King is advertising "50 percent off all items in the store," and Thrifty Threads is promoting a "buy one, get one free" sale on everything in the store. Which deal will save you more money?
16.0 of 20
Which was a better deal for the United States in terms of price per acre: the Louisiana Purchase from France or the purchase of Alaska from Russia?
17.0 of 20
You want to buy a $20,000 car and only have $5,000 saved up for a down payment. The wily car dealer offers you two different options. Number one: Take the regular APR for 6.99 percent for a 60-month loan and get an instant cash rebate of $2,000. Number two: Take a lower APR of 3 percent but no cash rebate. Which deal will result in a lower monthly payment?
18.0 of 20
True or false: Since generic medications are cheaper, they are allowed by the U.S. Food and Drug Administration to be less effective than the name-brand equivalent?
19.0 of 20
Credit card deals are notoriously hard to decipher, especially those offering cash back on every purchase. Which is the better deal: A card that gives you 1.5 percent cash back on all purchases, but charges a $100 annual fee, or a card with no annual fee, but zero cash back on every purchase?
20.0 of 20
What was the name of the original host of the American TV game show "Let's Make a Deal"?
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