Hi Alex,
That's a pretty interesting assignment, and I'm assuming that your teacher is looking to see if you understand these concepts in a concrete way, by using them within a set of given life circumstances - in the 'real' world - and given circumstances include who, what, where, why and when. You can start by deciding these elements in advance: Who=characters in your story; Where=where they are in the world and some specifics about the place (urban/rural, place of business/home, work environment etc....); when=time of day/time and/or time of the year, or time period. What=what's happening ... what are the characters doing that would include these terms; Why=what are they trying to achieve? It's also good to give them some kind of obstacle or challenge in accomplishing their goals.
Just brainstorm and make a list.
Some examples of situations (given circumstances) might be a person or family or couple is attempting to make a decision about increasing their credit rating; a person/family/couple is looking to refi their home and they have a bunch of credit cards; a sales person is trying to find clients for new mortgage or refi and finds they have a lot of credit card debt to consolidate.... etc.
I hope that helps kick start some ideas for you!
I'm available to help you with this as a tutor!
Best,
Amy Mueller