NewHomeICS17VeleG

New home spreadsheet Compound Interest Spreadsheet =Why do people use credit cards? - They use credit cards to help in case if they don't have money on their debit card so this will allow them to pay later.= =What are advantages and disadvantages of credit cards? - An advantage is you can pay all your costs in one big check. A disadvantage is if you go over your credit limit then you could get fined extra for it.= =What do the following terms mean? credit card, principal, APR, simple interest, compound interest, monthly payments - credit card: Allows you to buy things now but pay later. - APR: your annual percentage rate - simple interest: is money you can earn by initially investing some money - compound interest: calculated on the initial principal and also on the accumulated **interest ** of previous periods of a deposit or loan - **monthly payments: the amount of money that a person pays to a company per month** = =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? - then you would be able to live a good life without debt if not then you would have trouble getting out of debt later.= =What is the most important idea you have learned from this lesson? I think it was learning about all the things that credit and debit cards can do and what would happen if you use it inappropriately.=
 * **Making only the minimum monthly payment will get you out of debt quicker? True or False.** True but you could also increase your payment to get out of debt in a shorter amount of time.
 * **The higher the interest rate, means you will pay less interest in the long run? True or False.** False because the higher the interest the more you would have to pay to get off of debt
 * **Paying down on the principal will get your out of debt faster? True or False.** True because you would be able to pay off the final amount in less time.
 * **You should pay off your credit card bill every month? True or False.** True because you could go into a great amount of debt.
 * ** How would **
 * You Spend $10,000 Dollars ** ||
 * ||  |||| Total Spent ||
 * ||  |||| ** $10,000.00 ** ||
 * ** Item ** || ** Description ** || ** Item Value ** || ** Luxury **
 * Necessity ** ||
 * 46" TV || Sony Bravida 46" LCD TV || $1,399 || Luxry ||
 * Ipod Nano || Ipod Video Nano with 8 GB memour || $149 || Luxry ||
 * Xbox 360 || Xbox 360 Video Game || $259 || Luxury ||
 * Bed || Alison Gray 3 PC Queen Upholstered bed || $399.99 || Luxury ||
 * refrigerator || Whirpool French Door Refrigrator || $1,539.00 || Necessity ||
 * washing machine || DUET 4.3 CU. FT. WHITE STACKABLE WITH STEAM CYCLE FRONT LOAD WASHER - ENERGY STARtest || $696.99 || Necessity ||
 * Stove || JS750SFSS 4.4 cu. ft. Slide-In Electric Range w/ True Convection - Stainless Steel || $1,619.00 || Necessity ||
 * Microwave || Samsung - 1.6 Cu. Ft. Over-the-Range Microwave - Stainless || $149.99 || Necessity ||
 * PS4 || Sony - PlayStation 4 Pro Console || $399.99 || Luxury ||
 * Silverware || Anchor Hocking - Surface 20-Piece Flatware Set - Stainless Steel || $25.99 || Necessity ||
 * Cooking set || Cuisinart - MultiClad Pro 12-Piece Cookware Set || $299.99 || Necessity ||
 * Plate set || Rachael Ray - Gold Scroll 4-Piece Salad Plate Set - Almond Cream || $50.99 || Necessity ||
 * Sofa || Serta - RTA Martinique Collection 78" Fabric Sofa - Kona Gray || $419.99 || Luxury ||
 * laptop || Lenovo - Ideapad 110s 11.6" Laptop - Intel Celeron - 2GB Memory - 32GB eMMC Flash Memory - White || $169.99 || Luxury ||
 * desk || South Shore - Axcess Student Computer Desk - Black || $120.99 || Luxury ||
 * Fan || Bionaire - Tower Fan - Black || $69.99 || Luxury ||
 * Coffee table || Walker Edison - Coffee Table || $189.99 || Luxury ||
 * blender || Oster - 10-Speed Blender - Black || $22.99 || Necessity ||
 * Guitar || Archer - 4-String P-Style Electric Bass Guitar - Blue || $229.99 || Luxury ||
 * Vaccum || Dyson - Ball Multi Floor Bagless Canister Vacuum - Iron/Yellow || $299.99 || Necessity ||
 * DVD Player || Sylvania - 9" Portable DVD Player - Red || $109.99 || Luxury ||
 * Dish washer || Samsung - WaterWall 24" Tall Tub Built-In Dishwasher - Black Stainless || $749.99 || Necessity ||
 * Xbox One || Microsoft - Xbox One S 1TB Battlefield™ 1 Special Edition Console Bundle - Military Green || $349.99 || Luxury ||
 * Speakers || Sharp - 240W 5-Disc Mini Shelf System with cassette and Bluetooth - Black || $199.99 || Luxury ||
 * camera || Fujifilm - instax mini 8 Instant Film Camera - Blue || $59.99 || Luxury ||
 * iron || Conair - Battery-Operated Fabric Defuzzer - White, Blue || $14.99 || Necessity ||
 * cactus || Notocactus Leneinhauseaii Cactus Plant || $2.00 || Luxury ||
 * cup coaster || Square Board Coasters || $0.21 || Luxury ||
 * || APR=15% || Compound Interest ||  ||
 * Principal || %/month || Amount Due || Payment ||
 * $10,000 || 1.25% || $10,125 || $372 ||
 * $9,753 || 1.25% || $9,875 || $372 ||
 * $9,503 || 1.25% || $9,622 || $372 ||
 * $9,250 || 1.25% || $9,365 || $372 ||
 * $8,993 || 1.25% || $9,106 || $372 ||
 * $8,734 || 1.25% || $8,843 || $372 ||
 * $8,471 || 1.25% || $8,577 || $372 ||
 * $8,205 || 1.25% || $8,307 || $372 ||
 * $7,935 || 1.25% || $8,035 || $372 ||
 * $7,663 || 1.25% || $7,758 || $372 ||
 * $7,386 || 1.25% || $7,479 || $372 ||
 * $7,107 || 1.25% || $7,195 || $372 ||
 * $6,823 || 1.25% || $6,909 || $372 ||
 * $6,537 || 1.25% || $6,618 || $372 ||
 * $6,246 || 1.25% || $6,325 || $372 ||
 * $5,953 || 1.25% || $6,027 || $372 ||
 * $5,655 || 1.25% || $5,726 || $372 ||
 * $5,354 || 1.25% || $5,421 || $372 ||
 * $5,049 || 1.25% || $5,112 || $372 ||
 * $4,740 || 1.25% || $4,799 || $372 ||
 * $4,427 || 1.25% || $4,482 || $372 ||
 * $4,110 || 1.25% || $4,162 || $372 ||
 * $3,790 || 1.25% || $3,837 || $372 ||
 * $3,465 || 1.25% || $3,508 || $372 ||
 * $3,136 || 1.25% || $3,176 || $372 ||
 * $2,804 || 1.25% || $2,839 || $372 ||
 * $2,467 || 1.25% || $2,497 || $372 ||
 * $2,125 || 1.25% || $2,152 || $372 ||
 * $1,780 || 1.25% || $1,802 || $372 ||
 * $1,430 || 1.25% || $1,448 || $372 ||
 * $1,076 || 1.25% || $1,090 || $372 ||
 * $718 || 1.25% || $727 || $372 ||
 * $355 || 1.25% || $359 || $372 ||
 * -$13 || 1.25% || -$13 || $372 ||
 * discretionary spending- items that are nice to have
 * net worth- the amount left from what you subtract owe from what you own
 * giving- when you donate money to charity
 * savvy shopping- a way to compare prices to make the best choice for you
 * budget- the amount of money that you have in your account to spend
 * debt- the amount of money that you owe to a certain place or company
 * credit card pros and cons- instant gratification and convenience. You don't have to wait to buy a good or service until you have the money. Not all stores accept credit cards because store owners don't want to pay to credit card issuers
 * debit card pros and cons- good for tracking your payments and budget. buying with credit cards doesn't always create a credit card history.
 * borrow and down payment- when borrowing money for a house or car the lender will require a down payment which is calculated on the total price of the product which is 20%.
 * APR- this is your annual percentage rate.
 * credit score- used by banks to decide whether to lend you money and at what interest rate.
 * public and private colleges- biggest expense for students but many colleges give aid to those in need of financial assistance
 * = **Questions:** =