WorksheetsUnderstanding the 5 C's of Credit
Total questions: 27
Worksheet time: 2hrs 15mins
Which one of the 5 c's covers whether you can make the payments on your loans?
conditons
collateral
capacity
capital
which of the 5 c's would cover the interest of your loan?
capital
capacity
conditions
collateral
Which of the 5 C's describes how much money you have to make a down payment?
capital
character
capacity
collateral
Which one of the 5C's include your credit score, remember what I said about your reputation with borrowing money?
capacity
capital
conditions
character
Which of the 5 c's uses trade as a form of insurance incase you cannot pay your loan?
conditions
collateral
capacity
capital
name something you could use as collateral?
What is one benefit of a checking account?
What is one benefit of a savings account?
which of the 5 c's covers the interest of your loan
capacity
conditions
collateral
capital
which one of these is a type of investment?
the streets
being a rapper
buying stocks
mutual funds
which type of institution offers better benefits for its members?
bank
credit union
What is the definition of a financial institution?
a PS5 from gamestop is 500 dollars, however sales tax in florida is 6%, so how much are you paying in total?
What is the simple interest formula?
Interest is the fee banks charge for borrowing money
Banks will pay you interest for banking with them
your credit score will effect how much you pay for loans
What does principle mean in the simple interest formula?
what does the p stand for in the simple interest formula
paper
planning
principle
what is rate in the simple interest formula
the amount you make an hour
the percent the bank charges
the percent the bank gives
movie or video game rating
in the simple interest formula time is calculated in months or years
months
years
what mathmatical function do you use to calculate simple interest?
division
addition
multiplication
exponents
Kalel is buying a tank to take over Orlando, Adrain is selling it to him for 250,000. Kalel comes to Troy to borrow 250k. Troy says it give him the money for 7% interest for 12 years. How much is the INTEREST ONLY.
Carlos is trying to buy a feature from Onyx. Onyx is charging 10,000, but will take payments at 3.5% interest for 5 years. How much is Carlos paying for the feature in total?
Alba wants to start a clothing brand, she needs a loan for 20,000. Marlon will finance her at 12% interest for 3 years. How much is Alba paying Marlon back in total?
Dunja wants a lifetime airline ticket to Serbia to travel home whenever she wants. American Airlines is offering a lifetime flight to any destination for 25,000. Fallilou works for the bank, he will charge her 4% interest for 10 years. How much is she paying for the ticket?
Beli wants to open her dream snail farm, she needs 10,000 for the land, snails, and food. Josh is offering her a loan at 5% for 5 years while while Marlon is offering her a loan at 3% for 6 years. Which one should she take?
Marlon
Josh
