Junior Cert Borrowing

Can you name the Junior Cert Borrowing?

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HintAnswer
Getting money from places like the bank but will have to pay it back
Full rate of interest (APR)
Fixed rate of interest charged
Day to day expenditure
Long term expenditure
Spending more money than is in your account, provided you have permission from the bank
Small plastic cards issued by the bank that allows you to purchase goods on credit
Charged on repayments
You run into this if you don't pay money back
Buy now, pay later
Source of finance up to one year
HintAnswer
Source of finance up to 5 years
Source of finance 5+ years
Renting an item and WILL own after final payment
Renting an item and WON'T own ever
Long term loan to buy a house
Anybody who cannot repay loans are declared......
What happens your possessions if you cannot repay
A borrower that shops around is thought to be this type of borrower
Mark is told his fridge will be a deposit of €500 and 36 instalments of €65. How much will the fridge cost? Use €
Sum of money borrowed is €3000 and is to be repaid over 3 years at 1% interest per annum year. What will the total amount of interest owed using the flat rate model after 3 years
Sum of money borrowed is €5000 and is to be repaid over 5 years at 1% interest per annum year. What will the total amount of interest owed be using the APR model after 4 years?
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Last Updated: Oct 6, 2020

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