Session Date
Lesson Topic
Credit and Borrowing
Lesson Outline
Credit and Borrowing: Credit Definition as money borrowed from a lender with the requirement that the loan/credit will be paid back within a specific period of time. Discussion of why individuals and/or companies choose to borrow money and why lenders will loan money to businesses or individuals with a high credit rating. Credit score explained and practical examples provided. Interest paid to lenders as a fee for granting a loan. Concept of borrowing in order to spend/invest in business improvements and/or products development.
Assignment
Read Text pp. 200-205
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
During today's lesson on Credit and Borrowing, Colson was attentive and appeared to have a keen understanding of why businesses and/or individuals borrow money to improve products, services, etc. The concept of Credit Rating and Credit Score was explained to Colson to illustrate why banks and lenders choose to loan large sums of money to responsible, trustworthy borrowers.
Session Hours
0.75
Hours Attended
0.75
Entry Status
Review Status
Student Name(s)
Subject
School