When you get ready to fill out a loan
application, you’ll need to have the name, address,
and account number for each of the companies to which you
owe money. In addition, you’ll need to know how much
each monthly payment is and how much you have left to pay.
On forms, your debts are often called your liabilities.
Liabilities: The Miller family
Name and Address of
Company
Monthly Payment &
Months Left to Pay
Unpaid Balance
1.
Express Motor Company
(Auto loan)
117 Any Street
Cedar Rapids, IA
Account Number: 351X7821Z
$251
2 months left to pay
$552
2.
Westcoast Credit Union
(Auto loan)
210 Any Highway
Cedar Rapids, IA
Account Number: 67X 00 21AZ
$258
48 months left to pay
$10,872
3.
First Bankcard Center
(Credit card)
Box 3317
Cedar Rapids, IA
Account Number: 5828 1221 0711 1
$50
Paid up
$0
4.
Computer Credit Card
(Computer purchase)
117 Any Avenue
Cedar Rapids, IA
Account Number: Z889676
$105
2 months left to pay
$252
5.
Total Monthly Debt
Payment:
Total Liabilities:
Use the liabilities
chart above to solve these number problems.
