Research Questions
SCENARIO 1: Rent
1. Why is good credit important when renting an apartment?
Then youre more likely to get a loan.
2. How much does it cost to rent an apartment in your area? Provide the zip code,
apartment complex, and price range for the complex.
It cost around 655- 800, 87111, Outlook Apartments, 655- 800.
3. What happens if you cant pay your rent?
You get kicked out of your apartment.
4. How long does an eviction stay on your credit history?
Forever!!!!!!!!!
5. What are the advantages to renting an apartment?
When your lease is up you can go.
6. What is a lease?
A lease is the contract you sign to agree to live in the apartment for a certain amount of time.
7. Why is co-signing required?
Co-signing is required so each person is held to the agreement.
SCENARIO 2: Paycheck
1. What is the difference between gross and net income?
The gross income is the complete income before all of the taxes and deductions while net is
after those have been applied.
2. Why do we pay Social Security taxes?
So there is always money in the system.
3. What are Medicare taxes for?
They are for the medical care of retired people.
4. How much can a high school graduate expect to earn in your area?
They can make around 28000 per year.
5. What are the benefits of using direct deposit?
It automatically grows your savings.
SCENARIO 3: Gas N Go
1. What factors influence your cars fuel economy?
OIl and gas factories
2. What are the benefits of fuel economy?
There are none
SCENARIO 4: ATM Withdrawal
1. What is the difference between paying with cash, debit, or credit cards? List the
pros and cons of each form of payment.
Cash: Easily accessible and useable yet runs out quickly.
Debit:Useable and money is easily added and transfered
SCENARIO 5: Fly Away Cafe
1. Why does the total on the receipt differ from the total amount paid?
Because taxes are added to the total amount
2. What is an appropriate tip at a restaurant?
Life Scenarios
Research Questions
4. The balance in the reserves jar is now negative. What does this mean?
2. What are the consequences of not making a payment by the due date?
4. You have a remaining $260.11 left on this credit card. If your interest rate is
14.95% APR, and you only pay the minimum $20/month, how long will it take to pay off
this card, and how much interest will you be charged?
5. What if you ONLY made minimum payments on the entire $585 balance?
SCENARIO 10: City Parking Authority
1. You write a check for $25, but theres only $2.21 in your bank account. What
does this mean?
2. The bank could have bounced the check instead. What would have happened
then?
4. How can you protect yourself from overdraft and bounced-check fees?
3. Where can you shop near the apartment you found in scenario 1?
3. How long will it take you to pay off this car loan?
4. How much will you be paying in interest over the the life of the loan?
3. What basic maintenance is required for the car you chose in question 2?
4. Choose a wireless company and one of their wireless plans. List the company
and the details of the plan. Why did you choose this company and plan?
3. Your checking statement says you have $867.40 available in your account.
Banzai says you have $659.80. Which is right? Explain.
2. The total balance on this credit card is $442.42. How long will it take you to pay
the card off in full if you only pay the minimum monthly payment of $20?
5. What is APR?