Personal Financial Literacy

The ability to borrow money

• term

• credit

• interest

• monthly payment

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

The payment made towards the loan balance every month.

• credit

• credit limit

• term

• monthly payment

The length of time given to repay a loan

• term

• balance

• monthly payment

• interest

Tags

CCSS.5.NBT.A.2

The amount charged to borrow money

• term

• credit limit

• interest

• monthly payment

Tags

CCSS.7.RP.A.3

The maximum amount an individual can borrow.

• credit limit

• term

• interest

• credit

The act of paying off debt.

• credit

• monthly payment

• repayment

• term

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

When you borrow money, do you pay back more than the loan amount, less than the loan amount, or exactly the loan amount?

• more than the loan amount

• less than the loan amount

• exactly the loan amount

Tags

CCSS.5.NF.B.5B

To pay off a personal loan, John must make a monthly payment of $120 for 1 year. How much money must John pay back?

• $120

• $121

• $12

• $1440

Tags

CCSS.7.EE.B.3

Dinah pays of a 6 year loan at $1000 per month. What is her total repayment amount?

• $72,000

• 72

• $6000

• $166.67

Tags

CCSS.HSF.BF.A.2

Will takes out a loan of $6000 at 3.5% interest. The loan term is 2 years, with a monthly payment of $460. What is his total repayment amount?

• $6000

• $460

• $11,040

• $920

Tags

CCSS.7.RP.A.3