fixed variable secured unsecured installment revolving
Auto Loan
Fixed, Installment, secured
Credit Scores range from ____ to ____
300 - 850
the lowest payment you have to make on a credit card is called
minimum monthly payment
What does APR stand for?
Annual Percentage Rate
What was the location of the 2000 Summer Olympics?
Sydney, Australia
Student Loans
fixed, unsecured, installment
How many major credit reporting agencies are there?
3
do credit cards use simple or compound interest?
compound
Original amount of money borrowed, separate from interest or fees
Principal
How many legs does a lobster have?
10
credit cards
variable, unsecured, revolving
Name something other than missing a payment that will LOWER your credit score
answers will vary
What do you call a person who pays off their credit card each month?
transactor
Total amount owned on a loan including interest
Balance
What brand of cereal has the highest grossing revenue in the United States?
Cheerios
mortgage (home loan)
fixed, secured, installment
name at least 3 main factors that will affect your credit score
credit utilization %, credit history / payment history, length of credit, amount of credit
What do you call a person who carries a balance on their credit card (credit card companies love these people)
revolvers
What is the simple interest formula
I = PRT
What year was the first barbie doll released?
1959
What was the origin story of credit scores?
traders wanting to sell their goods west with no way to communicate trust to their new lenders.
What is the compound interest formula?
P (1+r)^t
Pennsylvania is bordered by what 6 states?
New york, new jersey, delaware, maryland, West virginia, and Ohio