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Financial Literacy

QuestionAnswer
What is your credit score? Credit score is how likely you are going to pay off your debt.
What is the range of credit score 300-850
What is 35% of your credit score? Credit history or on time history of payments.
True or false Can time erase missed or late payments True
What is 30% of credit score Total amount owed
What is 15% of credit score Length of credit history
What is the last 20% of credit score 10% type of credit and 10% new credit
True or false Everyone has a credit limit true
What is your credit limit Credit limit is the maximum amount of money that the bank allows you to borrow
What is grace period The amount of time you have before a payment is due
True or false Is grace period interest free True
What is your credit balance The balance is the amount of money you owe
What is minimum payment The least amount of money you have to pay to avoid a late fee or a ding to your credit score
What happens if you pay your balance You pay 0 interest
What is apr your annual cost of borrowing money
What is a fixed expense A cost that does not change
What is a variable expense A cost that changes
What is budget Amount of available money you have each month
What is a bear market Is when stock prices fall 20% or more from their recent highs and stay low for a while
What is a bull market When stock prices are rising for awhile.
Created by: ElizabethC117
 

 



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