2.0 BORROWING MONEY

Chapter 1: Reasons for Borrowing
You will need:
  • Concepts in Commerce (CC) p.46-47 (Hard-copy)
  • Exercise books

Key Terms:
  • interest
  • credit
  • secured loans
  • unsecured loans
  • guarantor

Tasks:
  1. Add and define the key terms into your glossary
  2. As a class, brainstorm reasons why you would borrow money. Compare your reasons with the table to the left. 
  3. Read through the textbook pages and 
  • Copy the steps down for getting a loan.
  • Questions 1-8. You need to write the answers to these into your book. Use full sentences. 
Chapter 2: Types of Loans
You will need:
  • Concepts in Commerce (CC) p.46-47 (Hard-copy)
  • Exercise books

Key Terms:
  • Mortgage
  • Personal Loan

Tasks:
  1. Add and define the key terms into your glossary
  2. Use figure 2.3a "different borrowing options"  For each option identify ONE advantage and ONE disadvantage for borrowing money from there. 
  3. Complete the "Types of Credit Cards" worksheet (hardcopy) handed to you. 
  4. Have a look at the Personal loan application and Credit Card application [RIGHT] 
  • Why do you thinks the financial institutions require so much personal information when borrowing money. In your answer refer to at least FOUR examples (address, income, occupation, assets, credit rating etc)
  • Complete the survey about borrowing money -->
persloanapplication.pdf
File Size: 129 kb
File Type: pdf
Download File
credit_card_application.pdf
File Size: 652 kb
File Type: pdf
Download File

Budget Investment Option: Stocks into A COMPANY

You have the opportunity to invest a minimum of $10 into stocks of Andrews INC. At the end of the lesson this wheel will be spun representing the possible outcome of the value of your stocks. Yes there is a risk you can lose money!