Banking Basics. Credit. How To Do Your Banking. Chapter 6: A good credit rating sets wheels in motion. CREDIT Graphic Organizer. The class will be divided into teams of 2 or 3. Each team will be assigned a section from Chapter 6.
Chapter 6: A good credit rating sets wheels in motion.
Finance Charge = A(N + 1)(APR)
Monthly Payment = A + FC
A = Amount of money borrowed
N = Total number of payments
APR = Annual Percentage Rate
P = Number of payments per year
FC = Finance Charge
Choose 1 of the following if
You can make payments consistently on time!
You pay full balance of any credit card each month!
Chapter 7: Now you’re the lender.