YourNewHomeICS16RUE


 * 1) =Why do people use credit cards?=
 * To avoid having to carry around cash and to be able to pay for large things like a car so that they can pay it back later like a loan.
 * 1) =What are advantages and disadvantages of credit cards?=
 * Advantages
 * Allows you to pay large amounts of money as a loan
 * Allows you to avoid having to carry around lots of money
 * Disadvantages
 * Encourages impulse spending
 * Interest
 * Late Fees
 * 1) =What do the following terms mean? credit card, principal, APR, simple interest, monthly payments=
 * Credit Card
 * card that allows to buy now pay later
 * Principal
 * Amount one starts with
 * APR
 * Annual Percentage Rate
 * Simple Interest
 * Fees charged for loans
 * Monthly Payments
 * Payments made monthly
 * 1) =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?=
 * It can help you avoid debt and keep a good credit so that you can buy a car and a house.
 * 1) =What is the most important idea you have learned from this lesson?=
 * That you need to always make your monthly payments to avoid going into debt.