The annual percentage rate (APR) is the cost of borrowing money on a credit card or loan over a year.

Planned saving and borrowing

Financial education

In this unit we learn about financial paperwork, future-focused investing, saving strategies, and practical budgeting.

Subjects which particular individuals may be sensitive to, eg, adoption, migration, bereavement or death, divorce, poverty, deprivation.

Depiction or discussion of sensitive content

The {{}} is the cost of borrowing money on a credit card or loan over a year.

Calculated on the original amount and the interest over the period

Percentage by which an amount will increase

Match the word/phrase with the correct definition.

Alex borrows £60 and has to pay it back with 6% interest. What is the total he has to repay?

Sofia borrows £70 and has to pay it back with 7.5% interest. What is the total she has to repay?

I borrow £450 and have to pay it back plus interest. I am asked to make 3 equal payments of £156.30. How much must I pay back in total?

I borrow £450 and have to pay it back plus interest. I am asked to make 3 equal payments of £156.30. Which interest rate has been applied?

When money is added to an account, it can be said that the account has been {{}} with that amount.

Credit (rating) is a {{}} score reflecting how trusted you are to pay back any money that you borrow.

Which of the following are **emergency** expenses?

Sofia's mobile phone contract costs £33.50 per month.  What is her annual phone bill?