Interest
What is interest?
Amount of money you need to pay on top of the original loan amount
Monthly payment for health care plans
Premium
Deductible
What does the 50 30 20 loan cover
Needs (50) wants (30) savings/debts (20)
And I got this one boy, and he won't stop calling
When they act this way, I know I got 'em
Espresso
What does HOA mean?
What is the principal
The original amount of money loaned
This term describes the amount a patient pays out-of-pocket for healthcare services before their insurance begins to cover costs.
Deductible
What coverage is legally required in CA
Liability coverage
What is a federal work study program
Part time work for undergrad/grad students w/ financial needs
Lashes and diamonds, ATM machines
Buy myself all of my favorite things
7 ring
What is a mortgage
The monthly payment on a bought home
What does APR stand for and do?
It is the annual percentage rate
Interest you pay per year for the money you owe
A certain group of doctors/facilities/health care providers that an insured person can go to
When Mr. Milton was doing the thriller dance in the drive through of In n Out he hit another car. What insurance would protect his car and help fix the damages?
Collision coverage
What is FASFA
A tornado flew around my room before you came
Excuse the mess it made, it usually doesn't rain
In Southern California, much like Arizona
Thinkin bout you
Money given for any rental property damage that might occur
Spongebob is house shopping and finds his perfect pineapple. He needs to get a loan of 10K to afford it. He gets the loan and buys his house. The first month he lives in it he gets a bill saying he owes a total of 10,700 dollars.
Why did the total amount change? How much is it changing by?
It is because the interest he owes on his loan and the rate is .07 percent
What is the difference between an HMO and a PPO?
HMO's are have cheaper premiums but require you to only get service in a certain network of providers.
PPO's are more expensive premiums but give you the ability to have outside of network coverage
Frank Ocean is speeding down the highway and gets pulled over for going 20 over the speed limit.
He told the officer I was "Thinkin bout you" but still gets a ticket. What will happen to franks insurance?
His premium will go up because he got a ticket
What is an unsubsidized loan vs a subsidized loan
Subsidized: Loans for undergrads based on the cost of attending the school and family contribution. they dont accrue interest while in school
Unsubsidized: Loans for everyone (undergrad and graduate) based on the cost of attending the school that do accrue interest while in school
'Cause luckily, I'm good at reading
I wouldn't bug him, but he won't stop cheesin'
And we can dance all day around it
Say So
What is another name for credit score
Fico Score
If you borrow 40K for a car loan with an APR of 5.5% and decided to pay it back in 10 years instead of 5 years what would be lower and what would be higher between the total cost and the monthly payment?
Explain why...
The total cost would be higher and the monthly payment would be lower
Because the longer you pay on the loan the more interest the loan will collect. The faster you pay off the loan the less interest is collected making the total cost cheaper.
Tanjiro has a health care plan with a 5,000 dollar out of pocket max. Throughout the year he has 4 broken limbs (1,200 total), 2 different specialist consultations (800 dollars total), constant prescription medications (1,500 total) and an outpatient surgery (2,000) total. After meeting his deductible he only pays 20% until the out of pocket max is reached.
When the insurance year is done how much did he pay out of pocket?
He owes 5,000 (His insurance covers all additional costs after out of pocket max is reached)
Gojo is shopping in Italy where he is buying all the fancy desiner clothes he wants. He comes outside to find out that someone stole his new lambo. Turns out he got the last gucci bag and to get revenge Doja Cat stole his car. What insurance would cover Gojo?
Comprehensive insurance
What kind of loan would a person who has a 4 year degree and is applying for their masters get?
Why would they get this loan?
Unsubsidized loan because they are not an undergraduate and the subsidized are only available to them.
It's them rose tinted cheeks, yeah it's them dirt-colored eyes
Sugar honey iced tea, bumblebee on the scene
Yeah I'd give up my bakery to have a piece of your pie
See you again
Name the 5 things that your credit score is based on
Number of credit applications
length of credit history
managing your debt
payment history