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Ms. Wagemaker Coginchaug Reginoal High School Personal Finance Jeopardy CreditInsurance The 5 C’s of Credit Savings 100 200 300 400 500.

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Presentation on theme: "Ms. Wagemaker Coginchaug Reginoal High School Personal Finance Jeopardy CreditInsurance The 5 C’s of Credit Savings 100 200 300 400 500."— Presentation transcript:

1

2 Ms. Wagemaker Coginchaug Reginoal High School

3 Personal Finance Jeopardy CreditInsurance The 5 C’s of Credit Savings

4 Credits Exit

5 Credit Which of the following is not a secured loan? personal cash loan to get through a temporary lay-off from your job 5-year auto loan home equity loan to pay for a new roof. 30-year, fixed-rate mortgage

6 Credit Which of the following is not a secured loan? personal cash loan to get through a temporary lay- off from your job 5-year auto loan home equity loan to pay for a new roof. 30-year, fixed-rate mortgage

7 Credit $200 Which of the following is not a reason for your credit card interest rate to go up? You have never missed a payment on any credit account. Your debt level is too high. You have exceeded your credit limit on another card. d. Your credit score went down.

8 Credit $200 Which of the following is not a reason for your credit card interest rate to go up? You have never missed a payment on any credit account. Your debt level is too high. You have exceeded your credit limit on another card Your credit score went down.

9 Credit $300 Currently what is the range of possible credit scores? A B C D

10 Credit $300 Currently what is the range of possible credit scores? A B C D

11 Credit $400 What do you call the type of loan that has a fixed number of equal payments to be paid on a regular basis? Examples would be car loans and home mortgages.

12 Credit $400 What do you call the type of loan that has a fixed number of equal payments to be paid on a regular basis? Examples would be car loans and home mortgages. INSTALLMENT

13 Credit $500 What do you call the type of loan/credit that does not have any collateral? Examples would be credit cards and personal loans.

14 Credit $500 What do you call the type of loan/credit that does not have any collateral? Examples would be credit cards and personal loans. Unsecured

15 Insurance $100 The price you pay for insurance coverage

16 Insurance $100 The price you pay for insurance coverage PREMIUM

17 Insurance $200 The amount the insured person pays out of pocket for each loss

18 Insurance $200 The amount the insured person pays out of pocket for each loss DEDUCTIBLE

19 Insurance $300 This type of insurance will provide you with some income in case you are unable to work due to an injury or illness.

20 Insurance $300 This type of insurance will provide you with some income in case you are unable to work due to an injury or illness. DISABILITY INCOME

21 Insurance $400 This type of insurance will help pay for your funeral expenses and provide money for your dependents in the event of your death

22 Insurance $400 This type of insurance will help pay for your funeral expenses and provide money for your dependents in the event of your death LIFE INSURANCE

23 Insurance $500 This type of insurance covers you against losses that might occur to the building you own

24 Insurance $500 This type of insurance covers you against losses that might occur to the building you own HOMEOWNERS

25 5 C’s of Credit $100 What you currently own; the value of all your assets fund

26 5 C’s of Credit $100 What you currently own; the value of all your assets CAPITAL

27 5 C’s of Credit $200 The current state of the economy – this will affect your interest rate and how willing creditors are to give you credit

28 5 C’s of Credit $200 The current state of the economy – this will affect your interest rate and how willing creditors are to give you credit CONDITIONS

29 5 C’s of Credit $300 What you are given in exchange for the loan/credit. What the creditor can “take back” if you default on your loan.

30 5 C’s of Credit $300 What you are given in exchange for the loan/credit. What the creditor can “take back” if you default on your loan. COLLATERAL

31 5 C’s of Credit $400 Your financial history – how well you have (or haven’t) paid off any previous credit. Your credit score is a strong indicator of this….

32 5 C’s of Credit $400 Your financial history – how well you have (or haven’t) paid off any previous credit. Your credit score is a strong indicator of this…. CHARACTER

33 5 C’s of Credit $500 Your current ability to repay a loan/credit. Your current income is the big determinant of this….

34 5 C’s of Credit $500 Your current ability to repay a loan/credit. Your current income is the big determinant of this…. CAPACITY

35 Savings $100 A basic savings account has high __________ because you can withdraw funds from it without penalty and easily convert the funds into cash.

36 Savings $100 A basic savings account has high __________ because you can withdraw funds from it without penalty and easily convert the funds into cash. LIQUIDITY

37 Savings $200 Which method of calculating interest will earn you the MOST money over time? Simple interest Compounded daily Compounded monthly Compounded annually

38 Savings $200 Which method of calculating interest will earn you the MOST money over time? Simple interest Compounded daily Compounded monthly Compounded annually

39 Savings $300 Using the Rule of 72, how many years will it take to double your investment if your earnings rate is 5% ? ____________

40 Savings $300 Using the Rule of 72, how many years will it take to double your investment if your earnings rate is 5% ? 14.4 # years to double your investment = 72 / interest rate

41 Savings $400 Saving for a skateboard is what kind of a goal: Short Term Medium Term Long Term

42 Savings $400 Saving for a skateboard is what kind of a goal: Short Term Medium Term Long Term

43 Savings $500 What does CD stand for when it comes to a savings product?

44 Savings $500 What does CD stand for when it comes to a savings product? Certificate of Deposit


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