Loans and Credit - Basic Facts

Use the Information found on our class website to answer the following questions.
1. Define each of the following terms:
Principal: ______________________________________________________________________
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Interest: ______________________________________________________________________
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Student Loan: __________________________________________________________________
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Personal Loan: _________________________________________________________________
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Credit Card: ___________________________________________________________________
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APR: __________________________________________________________________________
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Simple Interest: ________________________________________________________________
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Compound Interest: _____________________________________________________________
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2. How to Build Your Credit (List three Items in each column)
Do

Dont

3. List 3 borrowing tips to avoid debt:

o
o
o

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