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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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Do Now

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  1. Do Now

    What is credit? How do you get credit?
  2. Reminders News Article Analysis due THURSDAY!
  3. 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.
  4. 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
  5. 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.
  6. Guided Practice What to consider when choosing a credit card?
  7. Independent Practice 1) Complete the activity about the cost of credit.
  8. Questions
  9. Homework News Article Analysis due THURSDAY!
  10. Exit Ticket 1) What is one downside to using credit? 2) What is the major benefit to using credit?
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