Reporting in GE 3 Module 10

Lesson 2

A consumer loan is a loan taken out to purchase something. It doesn't matter if you're buying a car or a
house—the idea is that you'll use the money to pay for whatever you've purchased. One key distinction
between consumer loans and other types of loans is that you are not required to repay the money
unless you use it for something else. Other types of loans, such as mortgages or business loans,
frequently allow you to pay back less than the full amount once you've paid off your original loan.
Another significant distinction is that consumer loans are typically obtained by people with poor credit.
Because of this, banks generally charge higher interest rates on these types of loans than they do on
mortgages or business loans.

- Auto Loans - Auto loans are simple-interest loans, where the lender expects to be repaid by the
borrower in monthly installments for the amount they lent (the principal), plus interest (the cost of
borrowing from the lender, shown as a percentage of the principal balance).

Ang auto loan ay mga simpleng interes na pautang, na ang nagpapahiram ay inaasahang mababayaran
ng nanghihiram sa mothly installments para sa halagang kanilang ipinahiram (or the prinsipal), plus
interest (the cost of borrowing from the lender, shown as a percentage of the principal balance).

- Durable goods - Durable goods are goods that are meant to last more than a single use. These types of
goods can be used over and over again, and they may have a longer service life than normal goods.
Examples of durable goods include furniture, appliances, cars, and computer hardware.

- Education loans - Education loans are a type of loan that is typically used to fund educational expenses.
The type of loan you receive will be determined by the type of school you attend, as well as your interest
rate and other factors. The Education Loan is a government loan used to pay for your college education
and other educational expenses. The funds will be used to cover tuition, books, and other school-related
expenses.

- Personal loans - Personal loans are a type of financial loan that you can apply for from your bank or
credit union. They're available to help you pay for things like car repairs, home improvements and even
major purchases. To be eligible for a personal loan, you must have an established credit rating and
sufficient income.

- Consolidation loans - Consolidation loans are a type of loan that enables you to obtain a single loan
that consolidates all of your existing debts into one. This can be a great way to lower your monthly
payments or even pay off some debt completely. Consolidation loans are frequently the best option for
people who have multiple debts, particularly credit cards, but lack the funds to pay them all off at once.

Lesson 3

Meaning of Simple Annuity

Simple annuities are annuities that are designed to help the buyer understand the costs involved. The
basic idea behind a simple annuity is to provide a steady stream of payments that will not fluctuate in
value over time. Simple annuities have higher returns than traditional fixed-rate bonds, but they are less
tax-efficient than other types of investments.

Kinds of Simple Annuity

Annuity certain - Annuity Certain is a form of life insurance that allows you to buy a fixed amount of
coverage at a set rate for as long as you live, rather than making monthly payments.

Annuity uncertain - This refers to no fixed annuity payment like pension, life insurance,

and many others.