Page 115 - SK Year 5 Mathematics DLP

CREDIT AND DEBT

I want to buy this water filter machine
which costs RM4 850. Which type of payment
would you prefer?

Sure, sir. Please I am paying with my
have a seat. credit card.

Dad, what is
a credit card?

The credit card is a loan
convenience by the bank.
The bank paid for the water
filter machine just now. I do Oh, I see.
not have to carry a lot of cash.

Credit is a type of loan, a
convenience to postpone the
Now, I owe the bank. payment of the items purchased
I will be charged with or some money loaned by the
interest and will have financial institution.
to pay within the time
given. If not, the bank Debt is a loan needed to be
will impose a late paid by someone.
payment charge on me.

• Explain the importance of planning and managing the usage of 107
3.4.1
credit card and debt.