Year 11 Unit 2 LIBF Topic 5
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What is a store card?
Similar to a credit card that is used only in one particular store.
Describe credit cards. What is their main purpose?
Borrowed money from a lender, usually with interest added. Allows consumers to purchase now and pay later.
Describe a personal loan
Lump sum of borrowed money to buy a big purchase, such a car, house repair. Will have interest added on.
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