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Grade 8 Financial Literacy Flashcards | StudBud

Explore/Grade 8 Financial Literacy

Car loans dos include

A credit score involves?

Grade 8 Financial Literacy

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Questions 10

Answers

1
A credit score involves?
Established over time by showing you are a responsible borrower
Poor credit makes it more difficult to borrow money at low interest rates
Strong credit helps you borrow money at lower interest rates
All of the above
2
Car loans dos include
Do your research
Look for the lowest interest rate
Take the loan out as LONG as you possibly can
Both red and blue
3
What are the Credit dos?
report lost or stolen credit cards
Both red and blue
Pay back loans quickly
Get as much as you can!
4
The advantages of credit include
Don't have to carry cash
Free money
ability to buy items now
Both red and yellow responses
5
What is credit?
to borrow money and access goods and servives
ability to borrow money
credit cards
getting something credited to your account
6
Simple Interest is calculated...
I=P X R X T Or prt
I=Tax X rate
None of the above
I=Tax X P X R
7
Where can you borrow money in life?
Car dealerships and their financial institutions
All of the above
From a friends or family member
Financial Institution such as banks
8
Disadvantages of credit include
Interest rates
Increased impulse buying
Challenges to paying back if job loss occurs
All of the above
9
True or false? Covid-19 job losses have disproportionately impacted female industries
True
False
10
The C's of Credit
Conditions
All of the above
Capital
Character