NewHomecodeinitials.ics17CARVM

False the less you pay the longer it takes to pay it off. False, the higher interest rate the more money you need to pay off. True, if you do that you can pay much faster. true if you pay it off right away then you dont have to deal with late fees.
 * Making only the minimum monthly payment will get you out of debt quicker? True or False. Justify your answer with examples.
 * The higher the interest rate, means you will pay less interest in the long run? True or False. Justify your answer with examples.
 * Paying down on the principal will get your out of debt faster? True or False. Justify your answer with examples.
 * You should pay off your credit card bill every month? True or False. Justify your answer with examples.


 * === discretionary spending You were supposed to get the definitions from the book not from Google .- is government spending implemented through an appropriations bill. ===
 * === net worth- is the value of all assets, minus the total of all liabilities. is government spending implemented through an appropriations bill ===
 * === giving- freely transfer the possession of (something) to (someone); hand over to. is the value of all assets, minus the total of all liabilities. ===
 * === savvy shopping- when you tell yourself if this item is a necessity or luxury and if it's a luxury so wait a little. ===
 * === budget- an estimate of income and expenditure for a set period of time. ===
 * === debt- when you owe money to the bank that you need to pay off. ===
 * === credit card pros and cons- they are short term loans and some of the pros and cons are, pro: you dont have to wait to buy a good. Con: too convinient ===
 * === debit card pros and cons- A plastic payment card issued by your bank that lets you access the money in your account. ===
 * === borrow and downpayment- its when you ask to have the money but promise you will pay it off. ===
 * === APR- annual percentage rate. ===
 * === credit score- the score of your credit card. ===
 * === public and private colleges- colleges which allow you to come in publicly and privately. ===


 * 1) =Why do people use credit cards?=
 * 2) =What are advantages and disadvantages of credit cards?=
 * 3) =What do the following terms mean? credit card, principal, APR, simple interest, compound interest, monthly payments=
 * 4) =How can understanding the math calculations for the principal, APR, simple and compound interest, and monthly payments of credit card debt affect your overall financial situation in the future?=
 * 5) =What is the most important idea you have learned from this lesson?=