Lesson 8 paragaph 2.2

• Economie
• Middelbare school
• havo
• Leerjaar 3

Welcome T3!

Please sit according to your seating plan :)

Economics: lesson eight

Plan for today

1. Start lesson with a meme

2. Lesson goals - explanation - lesson goals

3.  Time to do and check the homework

Chapter 2 Dealing with money

Paragraph 2.2 Do you have enough money?

Lesson goals 2.2

- You can explain the different motives to borrow money in your own words

- You are able to calculate credit costs

-  You can explain the risks of borrowing money

- You can explain the difference between the most common types of loans

- You are able to explain the differences between the mortgage type 
 

Loan

Buy

Redemption

Instalments

+ interest / credit costs

Calculation credit costs

Credit costs= (number of instalments × instalment table) – loan

Myra borrows €1500 to buy a scooter with montlhy instalments of €27,- with a duration of 5 years. 

Question: calculate the credit costs

5 jaar x 12 maanden = 60 maanden

60 x €27 = €1620

€1620-€1500 = €120 kredietkosten

debt-to-income ratio?   Other debts?

                                      (Check at BKR)

Risk!?

NO!

NO!

YES!

Mortgage

= loan to buy a house (or boat)

House = Collateral--> less risk for the bank

Fixed repayment each month

Fixed amount: the annuity

(interest + redemption)

Consumer credits

- Personal loan

-Revolving credit

-Current account overdraft

-Deferred/ instalment payment  --> In instalments, but ownership

-Hire purchase                                    --> Only ownership after everything is paid

Lesson goals 2.2

- You can explain the different motives to borrow money in your own words

- You are able to calculate credit costs

-  You can explain the risks of borrowing money

- You can explain the difference between the most common types of loans

- You are able to explain the differences between the mortgage type 
 

Let's get to it!

• What: Do exercises 21, 22, 25, 26, 27, 30, 31, 33, 34, 35 and 36 

(a lot this time but you have more than a week.)

• With who: Together or alone

• Purpose: Process the information of this lesson

• Done?: Call me, I will tell you what to do next