BUSINESS HIGH SCHOOL-RECORD KEEPING

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Presentation transcript:

BUSINESS HIGH SCHOOL-RECORD KEEPING Obtaining a Loan Applying for Bank Credit Cards Credit Records Unit 3 Checking Your Credit Card Statement Buying on the Installment Plan Essential Learning Expectations: Why must buying items on credit be done carefully? What are 3 disadvantages to buying on credit? What are 3 advantages to buying on credit? What are 4 sources of credit available to individuals and businesses? What factors do lenders look at before they grant you credit? When buying on the installment plan, why is the installment price more than the cash price? When would a business or individual sign a promissory note? Content Vocabulary: Annual Percentage Rate Credit Good Credit Risks Installment Contract Interest Principal Promissory Note Sales Slip Transaction