Personal Finance – 5/16/17
I. Bellwork
A) Nabil has a vehicle registered in Michigan and is driving in Ohio. He runs off the road and hits a fence causing $12,000 in damage.
- Which coverage under no-fault insurance is responsible for the claim?
- How much is covered? Explain
B) Raneem drives her car into the side of a business causing $20,000 of damage to the building. She also hits a car that is parked illegally next to the building causing $5000 in damage to the other person’s car.
- Which coverage under no-fault insurance is responsible for the claim?
- How much is covered? Explain
II Objectives:
- Examine the history of credit in the U.S.
- Explain the advantages and disadvantages of credit
- Determine the meaning of words and phrases relating to credit
III. Discussion/Notebook
- Tree Maps: Advantages & Disadvantages of Credit
IV. Classwork: 16-1 Questions Pages 357-360
A. Questions Answers
- What percentage of U.S. purchases are made with credit?
- How much credit card debt does the average American have?
- Why has credit turned into a burden for many people?
- What are 3 important factors in qualifying for credit?
- Explain what is included in the credit balance due.
- Explain what is a minimum payment.
- Explain what is a secured loan.
- List four advantages of Credit.
- List four disadvantages of Credit.
B. Insurance Quiz on iLearn
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