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.

1. Which coverage under no-fault insurance is responsible for the claim?
2. 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.

1. Which coverage under no-fault insurance is responsible for the claim?
2. 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

1. What percentage of U.S. purchases are made with credit?
2. How much credit card debt does the average American have?
3. Why has credit turned into a burden for many people?
4. What are 3 important factors in qualifying for credit?
5. Explain what is included in the credit balance due.
6. Explain what is a minimum payment.
7. Explain what is a secured loan.
8. List four advantages of Credit.
9. List four disadvantages of Credit.

B.  Insurance Quiz on iLearn

Personal Finance W2017