CMB_U3 L10-13 Review

Who is going to DOMINATE today's review?!??

• Mrs. Jenkins/Ms. Dibert's Crew

• Mrs. Taylor's Team

• Mr. Gable's Group

Debt is usually expected in any of the following cases EXCEPT ____. 

• purchase of a house

• credit card purchases

• purchase of car

• educational loans

When paying down debt, it is best to _____.

• pay as much as possible toward the debt at the beginning of month

• pay as much as possible toward the debt at the end of month

• pay part to debt & part to savings account at beginning of month

• pay part toward debt & part to a savings account at end of month

Last Day for SENIORS IS:

You owe $1,350.00 on a credit card with a 14.25% APR. You pay $300.00 at the beginning of the month. How much interest do you save by paying at the beginning of the month versus at the end of the month?

(HINT: Find the amount of interest on $300...)

Interest accrues more quickly with _____ credit debt.

• high interest & high balance

• high interest & low balance

• low interest & high balance

• low interest & low balance

_____ is the least amount due on a bill.

• Any minimum payment

• Monthly payment

• Minimum monthly payment

• Minimum monthly premium

By Sunday, you should have Unit 3, Lesson ___ completed.

All of the following are good financial savings strategies EXCEPT _____.

• paying off credit card debt before saving for retirement

• saving for an emergency fund, then paying off credit debt

• saving for an emergency fund, then retiring

• paying off credit card debt, then saving for retirement

A ____ helps plan for retirement. 

• certified retirement planner

• savings advisor

• retirement planning sheet

• savings retirement planner