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Savings & borrowing

  • Game Code: 3326007
  •  English    11     Public
    2nd year business
  •   Study   Slideshow
  • Name two financial institutions where people can save money
    Bank and credit union
  •  10
  • what feature of a savings account allows you to access your money quickly?
    ATM card
  •  15
  • Name two types of short-term borrowing
    Bank overdraft and credit card
  •  15
  • give one example of a medium term loan
    hire purchase or personal loan
  •  10
  • name one type of collateral a person might offer for a loan
    house or car
  •  5
  • why is it important to compare interest rates before borrowing
    find the cheapest loan
  •  15
  • what is the name of the loan you take out when buying a house?
    mortgage
  •  20
  • how do you earn interest
    save money
  •  15
  • what types of accounts can you have in the bank?
    Current and deposit account
  •  20
  • what does APR stand for?
    Annual percentage rate
  •  25
  • a person borrows more than they can afford to repay. What financial problem might they face?
    Debt or arrears
  •  20
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