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Do Now. What is credit? How do you get credit?. Reminders. News Article Analysis due THURSDAY!. 9.6- Credit. Credit - buying goods or services now and paying for them in the future Loan - borrowing money that must be paid with interest

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Presentation Transcript
Do now

Do Now

What is credit?

How do you get credit?


Reminders
Reminders

  • News Article Analysis due THURSDAY!


9 6 credit
9.6- Credit

  • Credit- buying goods or services now and paying for them in the future

  • Loan- borrowing money that must be paid with interest

  • Using credit to make important purchases like college or a home often have economic benefits.


How much does credit cost
How Much Does Credit Cost?

  • Finance charge- total amount of interest you will pay plus service charges

  • Annual Percentage Rate (APR)- the amount of interest you pay


How do lenders decide if i get credit
How do lenders decide if I get credit?

  • Character- past record of paying bills on time

  • Capacity- level of income

  • Capital- financial resources including income, savings, and other investments.


Guided practice
Guided Practice

  • What to consider when choosing a credit card?


Independent practice
Independent Practice

  • 1) Complete the activity about the cost of credit.



Homework
Homework

  • News Article Analysis due THURSDAY!


Exit ticket
Exit Ticket

  • 1) What is one downside to using credit?

  • 2) What is the major benefit to using credit?


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