Principal, rate, and term
If your term is shorter, what happens to your payments?
Your payments are more expensive!
What is consider good credit?
What is a common APR for a mortgage?
What is 6-7%
What is a budget?
What is a plan that you execute to not over spend and save!
What is an overdraft fee?
What is An overdraft fee is a charge from a bank when a transaction is approved and paid even though there isn't enough money in your account to cover it!
What are two common term lengths of a mortgage?
True or False a debit card effects your credit score?
What is false!
If a loan is $100,000 over 10 years with a 5% interest rate, what is the total interest paid?
What is $27,278.62
Why is saving important?
What is savings builds a cushion for unexpected life events!
True or false you should pay off your TOTAL balance each month?
What is true!
What are the consequences of missing a payment?
What is APR increases!
Does having credit mean you have an increase in purchasing power?
What is no!
If a loan is $178,366 over 15 years with a 6.33% interest rate, what is the total interest paid?
If someone needs to $12,000 and they save $400 a month, how many months will it take for them to save?
What is 30 months!
True or false credit companies profit on peoples lack of knowledge?
What is true!
What is one way to decrease the amount of interest paid over a loans lifetime?
What is refinance!
What is the name of the box that informs you of a credit companies policies?
What is schumer box!
If a loan is $578,842 over 30 years with a 5.32% interest rate, what is the total interest paid?
What is $580,908.63
What is the 50-30-20 rule?
What are some alternatives before taking a cash advance?
What is ask a family member, sell things, and budget properly in the future!
What is the word for the initial amount the loan is taken out for?
What is principal!
If you take a loan for $1000 over 1 year at a fixed rate of 6.2% how much interest will you be charged?
What is $33.90!
If a loan is $987,903 over 10 years with a 4.63% interest rate, what is the total interest paid?
What is $248,155.80
What is the recommended amount of months money in a emergency fund?
Is personal finance one of the most valuable classes that one can take in high school?
What is yes!