Single Payment Loans

Multiple Choice

What is another name for a single payment loan?

• Balloon loan

• Kite loan

• Bubble loan

• Float loan

Multiple Choice

 How often do you make payments on a single payment loan?

• Every month

• Every week

• Only once at the end

• Twice a year

Multiple Choice

Single payment loans are usually for:

• Very long times

• Short times

• 10 years

• 30 years

Multiple Choice

Which is NOT an advantage of a single payment loan?

• Quick access to money

• No monthly payments

• Low interest rates

• Flexible money management

Multiple Choice

What's a risk of single payment loans?

   a) They're too easy to pay back

   b) The interest is always zero

   c) You might not be able to pay the big amount at the end

   d) They take too long to get approved

• They're too easy to pay back

• The interest is always zero

• They take too long to get approved

• You might not be able to pay the big amount at the end

Multiple Choice

What do you need to show the lender to get a single payment loan?

• Your favorite color

• Your pet's name

• Proof of your income

• Your shoe size

Multiple Choice

Which of these is NOT something a lender looks at for a single payment loan?

• Your job

• Your income

• Your age

• Your favorite TV show

Multiple Choice

What's an alternative to a single payment loan?

• A magic money tree

• An installment loan

• A piggy bank

• A lemonade stand

Open Ended

Do you think that single payment loans are a good idea?

Explain why or why not.