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a Dealing with Dollar$ workshop
Financial Choices and Options
Activity
A secret admirer has left a $100 gift card in your
mailbox. Which store would you like it to be for?
BankCredit UnionFinance CompanyOther
Name one of these:
True or False?
Banks offer many different services
Credit unions have customers not members
Payday loan companies sell money?
People on income support can not open a bank account
Interest Rate An interest rate is the rate charged or paid
for using money. You are charged an interest rate when you borrow money and paid an interest rate when you loan money (placing it in a savings account is like a loan to the bank).
Short on cash?March 30- Borrow $300.00
Interest rate is 29%
April 8 - Pay back $422.00
How much did it cost you to borrow $300?
How much profit did the store make selling you $300?
Need a loveseat?
Option 2 Fred’s Furniture Store
Save and Buy= $649.00
Option 1 Rent to Own$17 per week for 92 weeks = $1600.00
Creditor
A person or company to whom money is owed
NL Power says you have to paythem $50 today but you don’thave it. What can you do?