Section 3.1 installment payments  DR Chapter

Section 3.1 installment payments DR Chapter

Assessment

Flashcard

Mathematics

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What is a credit score?

Back

A numerical representation of a person's creditworthiness, indicating the likelihood that they will repay debt.

2.

FLASHCARD QUESTION

Front

Why do banks and lenders use credit scores?

Back

To assess the likelihood that someone is able to repay debt.

3.

FLASHCARD QUESTION

Front

What is the importance of living on less than you make?

Back

It is essential for saving money and building wealth.

4.

FLASHCARD QUESTION

Front

What is considered a good emergency fund?

Back

3-6 months of living expenses.

5.

FLASHCARD QUESTION

Front

What factors contribute to a person's FICO score?

Back

Payment history, amounts owed, length of credit history, new credit, and types of credit used.

6.

FLASHCARD QUESTION

Front

What is the greatest tool for building wealth?

Back

Your income.

7.

FLASHCARD QUESTION

Front

What does it mean to have zero debt?

Back

It means not owing any money to lenders or creditors.

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