edpuzzle: strategies for debt repayment\nthe ...

edpuzzle: strategies for debt repayment\nthe snowball and high rate methods are two popular strategies to pay down multiple debts. watch this video and follow your teachers directions to answer the questions either in your student activity packet or within the edpuzzle itself.\nnote: edpuzzle videos shuffle answer choices and do not always match the order provided here.\n1. all of the following are examples of debt except...\na. credit card balance\nb. scholarship\nc. student loan\nd. auto loan\n2. if you are using the snowball method to get out of debt, which debt do you focus on first after youve made all of your minimum payments?\na. the debt with the highest balance\nb. the debt with the highest interest rate\nc. the debt with the lowest interest rate\nd. the debt with the lowest balance\n3. the avalanche method of getting out of debt requires you to pay the most amount of money on the debt with the ______ interest rate.\na. highest\nb. lowest\n4. which is a disadvantage of using loan consolidation to pay down debt?\na. there are multiple due dates for your loan payments\nb. the new loan may have a lower interest rate\nc. you have to keep track of multiple loans\nd. the new loan may have a higher interest rate\n5. if the avalanche method makes most mathematical sense, why do you think someone might use the snowball method instead?\na. the snowball method saves more money in interest\nb. the snowball method allows you to get out of debt much faster\nc. the snowball method consolidates all of your debt payments into one, manageable payment each month\nd. the snowball method can motivate you to continue paying off your debt

Answer

# Brief Explanations: 1. Un préstamo o saldo pendiente son deudas. Una beca no es una deuda, es una ayuda financiera que no se debe devolver. 2. El Método de la Bola de Nieve se centra en pagar primero la deuda con el saldo más bajo después de hacer los pagos mínimos. 3. El Método del Avalancha requiere que se pague la mayor cantidad de dinero en la deuda con la tasa de interés más alta. 4. Una desventaja de la consolidación de préstamos es que el nuevo préstamo puede tener una tasa de interés más alta. 5. El Método de la Bola de Nieve puede ser motivador al pagar primero deudas pequeñas, lo que puede animar a continuar pagando deudas. # Answer: 1. B. Scholarship 2. C. The debt with the lowest balance 3. A. Highest 4. D. The new loan may have a higher interest rate 5. D. The Snowball Method can motivate you to continue paying off your debt