Cards 1
This type of card can only be used at one store
What is a gift card
This is the smallest amount of money you have to pay on a credit card bill every month to avoid paying a late payment fee
What is the minimum payment
Name a small or family-owned business in Wayzata
Answers may vary.
What is the third step in PACED?
Identify criteria.
Is a bag of chips a good or a service?
Is there interest on a debit card?
No
How often do you get a credit card statement?
Once a month
This is a choice between two or more possibilities
A decision
Give three reasons you would use the PACED decision-making model.
Buying a house, a dog, a car, nice clothes, choosing a job, etc.
Define a good
Physical items we can see and touch
Which is a better APR, 17% or 21%?
17%
The "price" of money
What is interest?
Are consumers good or bad for the economy?
Good
Which step of PACED is this: Which features are important? What do you want/need?
Identify criteria.
Define a service
Work that is done for other people
What you file for when a business, or person is unable to pay her or his debts
What is bankrupt?
A higher interest rate charged on new transactions.
What is penalty APR
A consumer is someone who _____ and ____ goods and services.
Which step of PACED is this: What are your options? Can you categorize them?
Suck Kyles Mom
Is a car wash a good or a service?
A service.
How old do you have to be to get a credit card without a cosigner AND with a cosigner?
21 on your own, 18+ with a cosigner
This is the interest rate over the period of one year that is applied to credit cards and loans
APR
What are the three types of costs?
Money Cost
Self Cost
Earth Cost
Name the steps of PACED in order
P: Identify/State the problem
A: List alternative
C: Identify criteria
E: Evaluate alternatives based on criteria
D: Make a decision
Name something you would buy that is a good and a service
Grocery or food delivery. Answers may vary.