Math I guess idk
If you buy something for $2400 with a 8-month payment plan at 0% interest, how much are your monthly payments?
$300
What is interest?
Interest is a percentage increase in the money loaned
What is light pollution?
A phenomena where the light generated by thousands (or millions) of small lights in a city make the region so bright that stars are unable to be seen clearly from the ground
What things can a credit score affect?
Credit score can affect your ability to: buy a car, buy a house, rent a property, get a loan, get a credit card --- Basically anything where your reliability on making payments is called into question, or your reliability on paying back the bank when you borrow money
What is a credit card?
Which will have more interest, a $1000 debt at 20% interest, or a $2000 debt at 5% interest
The $1000 debt at 20% interest
What is the principal in terms of a loan?
The initial amount of money you borrowed, before interest
What galaxy do we live in?
The Milky Way
What is a credit score?
A number representing your "credit health" or in simpler terms a score determining how reliable you are at paying back your debts
How many credit cards can you have?
If you put a $4,000 down payment on a $14,000 car, and put the rest of the money you owe on a loan, how much is the principal on the loan?
(principal is the amount of money you initially owe)
$10,000
What are three common types of loans?
Car loans
Business loans
Personal loans
Mortgage (housing loan)
Student loans
Without leaving the room, what did we eat for lunch yesterday?
Bonus if you know what's considered a bad credit score
Generally 670-739 is considered "good"
Anything under 580 is considered to be bad
What is a secured credit card?
A credit card that requires an initial down payment to borrow money (typically for people with no credit history or very poor credit)
If you open a CD savings account with $10,000 with a 10% interest APY (annual percentage yield), how much will you have at the end of one year?
$11,000
What's the most important thing for building credit with a loan?
Always make your payments ON TIME
A figure of speech where a word imitates a sound (examples: buzz, hiss, boom)
What's the most important thing to remember for building your credit score?
Make your payments ON TIME
What's the best usage for a credit card?
(Usage in reference to how much money you've spent out of the total available balance)
Approximately 1/3rd (or 33%) which is arbitrary
You get paid $1500 per two weeks, and you get taxed ~20% (federal, state, etc.) how much money goes to taxes?
$300
Refinancing replaces an existing loan with a new one, typically to secure a lower interest rate, change loan terms, or access home equity, with closing costs usually ranging from 2% to 6% of the loan amount. It works by paying off your old loan with a new, better-termed loan.
What part of a cell contains the DNA?
The nucleus
How long can a single late payment affect your credit score?
Up to seven years
What's the most important thing to remember when using a credit card for your credit score?
Make your payments on time!