Name: ______20 pts

CREDIT SCORE AFFECTS:

  1. How risky you appear to a lender, Lower the Score, Higher the Rate of Interest they charge you to borrow their money

Use insert average interest rates for bank’s lending services.

Financial Calculators

  • Auto loan:
  • Mortgage:
  • credit card:
  • Find a home:
  • Find a car:

Formula:

How much do you actually pay: ______?

INSERT TODAY’S RATES

New and Used Car Loan / Credit Card / Home Equity Loan / 30 Yr Mortgage / 15 Yr Mortgage
4 yrs New:
3 yrs New:
4 years Used:
3 years Used:
  1. If we bought a USED car for $10,000 putting down 5% and financing the other $8000 over a 3 year period.
  2. Down payment =
  3. Financing amount =
  4. How much would our monthly payments be? ______
  5. How much would we actually pay for the car? ______
  6. Find a $10,000 used car and insert pic here:
  1. If we bought a house in Havertown for $200,000, putting down 15% and financing the rest over a 30 year period.
  2. Down payment =
  3. Financing amount =
  4. How much would our monthly payments be? ______
  5. How much would we actually pay for the car?______
  6. Find a $200,000 house and insert the pic here:
  1. Credit Card balance of $3500. Pays minimum amount required of $87.50. How long would it take you to pay this debt?______How much would you pay in interest? ______How much would you actually pay for this debt?______
  1. If we bought a NEW car for $25,000 putting down 8% and financing the remaining amount over a 3 year period.
  2. Down payment =
  3. Financing amount =
  4. How much would our monthly payments be?______
  5. How much would we actually pay for the car?______
  1. If we bought a NEW car for $25,000 putting down $4000 and financing the remaining amount over a 4 year period
  1. Down payment =
  2. Financing amount =
  3. How much would our monthly payments be?______
  4. How much would we actually pay for the car?______
  5. Insert a pic:
  1. Bought a $300,000 house in Havertown, put 10 % down, for 30 years at.
  2. Down payment =
  3. Financing amount =
  4. How much would our monthly payments be?______
  5. How much would we actually pay for the car?______
  6. Insert a pic
  1. Bought a $300,000 house in Havertown, put 10 % down, for 15 years at.
  1. Down payment =
  2. Financing amount =
  3. How much would our monthly payments be?______
  4. How much would we actually pay for the car?______
  5. Insert a pic
  1. Credit Card balance of $6500. Pays minimum amount required of $______. How long would it take you to pay this debt? ______How much would you pay in interest? ______How much would you actually pay for this debt? ______