In Week 10A students learn about loans. Students learn about the different types of consumer loans with emphasis on mortgages, which are typically the largest and longest term loan a consumer will have.In Budget Challenge the assumption is that students have recently graduated from college and are working. Consequently, they have term loans in the forms of student loans and a vehicle loan. They also have a credit card which is a revolving loan. Making loan payments regularly and on time are some of the performance tasks they are expected to accomplish.
Topics covered in this unit
- Types and Costs of Debt (CW10A.1)
- Collateral (CW10A.2)
- Pitfalls to Debt (CW10A.3)
- Amortization and Compound Interest (CW10A.4)
- Log in to your Budget Challenge account
- From your Dashboard under Written Tests click VIEW DETAILS and next to (CW10A) LOANS/DEBT click UNIT MATERIAL
- READ EVERYTHING & WATCH ALL THE VIDEOS!! TODAY IS A LEARNING DAY!!
- Once you feel like you know everything there is to know from the Unit Materials, take the quiz–you do not have to do this today!!
- TYPES & COSTS OF CREDIT: https://www.budgetchallenge.com/Portals/0/Documents/RoadMap/Week9/W9_Pit%20Stop_Types_Costs%20of%20Credit.pdf
- LOAN TRIVIA: https://www.budgetchallenge.com/Portals/0/Documents/RoadMap/Week9/W9_Test%20Drive_Loan%20Trivia.pdf
- LOAD TRIVIA: https://www.budgetchallenge.com/Portals/0/Documents/RoadMap/Week9/W9_Test%20Drive_Loan%20Trivia.pdf