CDAE 158 Lecture Notes - Lecture 9: Major Force, Embedded System, Overdraft
2 Oct 2018
School
Department
Course
Professor
Document Summary
Spending current income on luxuries will eventually reduce future well-being. Spending future income now reduces funds available for future expenses. Permits purchase even when funds are low. Failure to repay loan may result in loss of income, valuable property, and your good reputation. Misuse of credit can create serious long-term financial problems, damage to family relationships, and a slowing of progress toward financial goals. Single loan for a specific purpose and a specified amount that you pay back in a specified period of time and in payments of equal amounts. Installment sales credit, installment cash credit, and single lump-sum credit. Mortgage, automobile, and installment loans for furniture or appliances. Use as needed until reaching line of credit maximum. You pay interest and finance charges if you do not pay the bill in full when due. Credit cards issued by department stores, bank credit cards, overdraft protection, incidental credit, and revolving check credit.
