Describe why people often make a cash payment to the seller of a good—called a down payment—in order to reduce the amount they need to borrow. Describe why lenders may consider loans made with a down payment to have less risk because the down payment gives the borrower some equity or ownership right away and why these loans may carry a lower interest rate.
Explain how a down payment reduces the total amount financed and why this reduces the monthly payment and/or the length of the loan.
Explain why a borrower who has made a down payment has an incentive to repay a loan or make payments on time.
| Course Number1111 |
Course Title222 |
| 2102800: | Florida’s Preinternational Baccalaureate Comparative Economics With Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2022, 2022 - 2024, 2024 and beyond (current)) |
| 2102335: | Economics with Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2022, 2022 - 2024 (course terminated)) |
| 2102340: | Economics with Financial Literacy for Credit Recovery (Specifically in versions: 2015 - 2018, 2018 - 2022, 2022 and beyond (current)) |
| 2102345: | Economics with Financial Literacy Honors (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2022, 2022 - 2024 (course terminated)) |
| 0400515: | The Business of Theatre: Management and Promotion (Specifically in versions: 2014 - 2015, 2015 - 2020 (course terminated)) |
| 7921022: | Access Economics with Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2023, 2023 and beyond (current)) |
| 2102372: | Personal Financial Literacy (Specifically in versions: 2015 - 2018, 2018 - 2019, 2019 - 2022, 2022 and beyond (current)) |
| 2102374: | Personal Financial Literacy Honors (Specifically in versions: 2015 - 2018, 2018 - 2019, 2019 - 2022, 2022 and beyond (current)) |
| 1200387: | Mathematics for Data and Financial Literacy (Specifically in versions: 2016 and beyond (current)) |
| 7921021: | Access Personal Financial Literacy (Specifically in versions: 2019 - 2023, 2023 and beyond (current)) |
