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Loans - Financial Literacy Flashcards | StudBud
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Loans - Financial Literacy
Loans - Financial Literacy
5 terms
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StudBud Administration
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27 plays
Financial Literacy presentation series - Loans
Flashcards
5 cards
F
Practice quiz
P
Host live
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Questions
5
Answers
1
Who agrees to take responsibility for a loan if the primary borrower fails to repay it?
No one
The bank
Co-signer
Parents
2
Defaulting on a loan can negatively affect your credit score.
True
False
3
What is a down payment?
Payment for interest only
Final payment on loan
Monthly payment for mortgage
Initial payment made upfront
4
What is interest?
Amount charged for borrowing money (%)
Money you are given from the government
Total amount you borrow
Listening to someone speak
5
Which loan is typically used to buy a home?
Student loan
Mortgage
Personal loan
Car loan
