This week in banqer we have been learning about lending and debt. We looked at debit cards they are simaller to eftpos card a debit card you ownley buy stuff with money in your account.
A credit card is were you borrow money from the bank once you buy stuff with the banks money you have certain amount of time to pay your money back.
After pay is were you buy something from some one and they say every week you have to pay one dollar a week for six weeks.
personal loan is were say you ask to borrow 10 thousand dollars for a car from the bank.
Overdraft is were you spend more money then you have in your bank account and you have no money.
Hire purches is the similar as after pay but you have interest in hire purchase.
We also looked at weekly service fee that is the rate at which you