New+HomeLA

=Questions:= = = =Answers:=
 * 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, 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?=


 * 1) People use credit cards to make large purchases for when they do not want to use their debit cards and want to buy something and pay it away later.
 * 2) The advantages of having a credit card is that you can use it during emergencies, this is also how you build up credit to buy a house, rent an apartment, get a car, etc. The disadvantages of getting a credit card is that it lets the person be able to buy things on a whim without planning how much it'll hurt them in the long run.
 * 3) A credit card is a card that a bank gives you so that you can purchase things while they charge you a certain amount of interest and be able to pay them off. Principal is the money you owe without interest. APR is the annual rate that is charged for borriwng or made investing expressed as a single percantage number that represents the actual yearly cost of funds over the term of a loan. Simple interest is a quick method of calculating the interest charge on a loan. Monthy payments are the payments you pay to a credit card company for borriwng money.
 * 4) If you understand these terms you will be able to budget carefully and understand the basics of credit cards and how to use credit cards.
 * 5) The most important idea that I have learned from this is how to budget my money wisely.

=Assignment #2=
 * 1) Open your student_purchases spreadsheet in Open Office. Select the cells with data. use Ctrl C to copy the data. On your NewHome wiki page. paste the data (Ctrl V). Save the page. (Do not worry if you have not spent $10,000 or have not bought 21 items.) (See  sample page )
 * 2) On Khan Academy view: Introduction to Interest (simple and compound) You will not be required to make calculations based on Khan Academy example. However,watch it to better understand the relationships of the principal (balance owed), the Average Percentage Rate (APR), the interest calculations, and the monthly payments. Note that although many of you were surprised at the relationship between the principal (balance owed) and monthly payments, the formula used for the calculations on the student_purchases spreadsheet was much simpler than the actual calculations a credit card company would use.
 * 3) Experiment with an online Calculator: Simple Interest Calculator Enter a principal value of $10,000. Enter an interest rate of 15%. Calculate for 5 years. Experiment with other values and percentages and years.
 * 4) In pairs, discuss the following questions.The answers do not have to be written on the wiki page.
 * 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.


 * ** Item ** || ** Description ** || ** Item Value ** || ** Luxury **
 * Necessity ** || ** Online Source ** ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * 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 || Floating in mid air || $995.00 || Luxury || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Table || kitchen table || $119.00 || Necessity || https://www.google.com/shopping/product/15829208088063480940?safe=strict&biw=1600&bih=872&sclient=psy-ab&q=kitchen+tables&oq=kitchen+tables&pbx=1&bav=on.2,or.r_qf.&bvm=bv.85142067,d.cWc&pf=p&sugexp=msedr&gs_rn=61&gs_ri=psy-ab&ds=sh&pq=tables&cp=8&gs_id=1p&xhr=t&tch=1&ech=9&psi=GlnSVPS-OMX7sATcvYCgCA.1423071515486.5&ei=VVnSVL3HF6HfsATSxILIAQ&ved=0CIkBEKYrMAA ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Stove || Electric || $649.00 || Necessity || https://www.google.com/shopping/product/7440622651298497924?safe=strict&biw=1600&bih=872&sclient=psy-ab&q=electric+stove&oq=electr+stove&pbx=1&bav=on.2,or.r_qf.&bvm=bv.85142067,d.cWc&pf=p&sugexp=msedr&gs_rn=61&gs_ri=psy-ab&ds=sh&pq=gas+stove&cp=6&gs_id=34&xhr=t&tch=1&ech=23&psi=UVrSVIvjE7LesASxhoKIAQ.1423071826505.1&ei=q1rSVN6-NcuCsQTtvYDIBA&ved=0CMABEKYrMAE ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Knife set || Oster kitchen knives || $59.00 || Necessity || https://www.google.com/shopping/product/2537423584214934035?safe=strict&biw=1600&bih=872&output=search&q=kitchen+knife+set&oq=kitchen+knife+set&prds=paur:ClkAsKraX89ExtUE79UTexou-Iuc-Hz-QoNBQcaaMyEBU13qwB4Y5N_DDXEwXhKMAHNJi5YiYqHFtt21aqx7MSXpJy7KlVQtVg3Ckd4tN_SsET22Qw_HfiU5CRIZAFPVH713NfxT6kg56MyaZf2mgk4iZRqMsg&ei=aVvSVOqUB6W0sATux4GIAg&ved=0CJoBEKYrMAA ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Blankets || Bed Set || $39.00 || Necessity || http://www.lightinthebox.com/quilt-set-3-pieces-plaid-navy-polyester_p1439122.html?currency=USD&litb_from=paid_adwords_shopping&gclid=CNawwIruyMMCFdcWgQodRBAAQA ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Microwave || Kitchen product || $60.00 || Necessity || https://www.google.com/shopping/product/5691876805512463040?safe=strict&biw=1600&bih=872&sclient=psy-ab&q=microwave&oq=microw&pbx=1&bav=on.2,or.r_qf.&pf=p&sugexp=msedr&gs_rn=61&gs_ri=psy-ab&ds=sh&pq=quilt+bedding+sets&cp=6&gs_id=11&xhr=t&tch=1&ech=8&psi=X1zSVI-mKKTIsQTr94KYAg.1423072647353.3&ei=lF3SVNvpFYPjsATcwoKYAQ&ved=0CM0CEKYrMAo ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Chairs || folding chairs || $10.00 || Necessity || https://www.google.com/shopping/product/527340417171381455?safe=strict&biw=1600&bih=872&sclient=psy-ab&q=+folding+Chairs&oq=+folding+Chairs&pbx=1&bav=on.2,or.r_qf.&bvm=bv.85142067,d.cWc&tch=1&ech=1&psi=bV7SVO38NbTPsQTJ3ILIDw.1423072879622.3&prds=paur:ClkAsKraX7x8xiCymyx-CYSnTKSNGaug3Fg9DITsGp1-vvyD5c2Lb9QBjydK8HbzlpTJDGUSoBovN2xaKhGp5Yoj9mmLnRs6fKO1Mgd-nNDVrZNTnx4Ga5jsaBIZAFPVH73d1Vp7OSkMfrdliiB9zN_cGS-_ug&ei=f17SVPigE6XksATLuYKQAg&ved=0CJYBEKYrMAA ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Refridgorator ||  || ? || Necessity || https://www.google.com/shopping/product/1163799718757883924?safe=strict&biw=1600&bih=872&q=cheap+refrigerator&spell=1&bav=on.2,or.r_qf.&bvm=bv.85142067,d.cWc&tch=1&ech=1&psi=E1_SVIjuCIe1sASItoCIAg.1423073044447.5&prds=paur:ClkAsKraX5txI2CAqXiTsOvDA9RcIrKcrrwMavI11BdCC8AKrMEVHSIyUNihovxk1qRzn1krYTB5xXLsaiW0o8m9TA2NeMvRxQ5zWhT-gVzvg18Wq4kqF0nQ2hIZAFPVH70pCy6cdwNYQF1ggsJru5BtUfF4Tg&ei=LF_SVMewK-3isATDq4Ig&ved=0CKYBEKYrMAE ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   || ** Item ** || ** Description ** || ** Item Value ** || ** Luxury **
 * Necessity ** || ** Online Source ** ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * 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 || Floating in mid air || $995.00 || Luxury || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Table || kitchen table || $119.00 || Necessity || https://www.google.com/shopping/product/15829208088063480940?safe=strict&biw=1600&bih=872&sclient=psy-ab&q=kitchen+tables&oq=kitchen+tables&pbx=1&bav=on.2,or.r_qf.&bvm=bv.85142067,d.cWc&pf=p&sugexp=msedr&gs_rn=61&gs_ri=psy-ab&ds=sh&pq=tables&cp=8&gs_id=1p&xhr=t&tch=1&ech=9&psi=GlnSVPS-OMX7sATcvYCgCA.1423071515486.5&ei=VVnSVL3HF6HfsATSxILIAQ&ved=0CIkBEKYrMAA ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Stove || Electric || $649.00 || Necessity || https://www.google.com/shopping/product/7440622651298497924?safe=strict&biw=1600&bih=872&sclient=psy-ab&q=electric+stove&oq=electr+stove&pbx=1&bav=on.2,or.r_qf.&bvm=bv.85142067,d.cWc&pf=p&sugexp=msedr&gs_rn=61&gs_ri=psy-ab&ds=sh&pq=gas+stove&cp=6&gs_id=34&xhr=t&tch=1&ech=23&psi=UVrSVIvjE7LesASxhoKIAQ.1423071826505.1&ei=q1rSVN6-NcuCsQTtvYDIBA&ved=0CMABEKYrMAE ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Knife set || Oster kitchen knives || $59.00 || Necessity || https://www.google.com/shopping/product/2537423584214934035?safe=strict&biw=1600&bih=872&output=search&q=kitchen+knife+set&oq=kitchen+knife+set&prds=paur:ClkAsKraX89ExtUE79UTexou-Iuc-Hz-QoNBQcaaMyEBU13qwB4Y5N_DDXEwXhKMAHNJi5YiYqHFtt21aqx7MSXpJy7KlVQtVg3Ckd4tN_SsET22Qw_HfiU5CRIZAFPVH713NfxT6kg56MyaZf2mgk4iZRqMsg&ei=aVvSVOqUB6W0sATux4GIAg&ved=0CJoBEKYrMAA ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Blankets || Bed Set || $39.00 || Necessity || http://www.lightinthebox.com/quilt-set-3-pieces-plaid-navy-polyester_p1439122.html?currency=USD&litb_from=paid_adwords_shopping&gclid=CNawwIruyMMCFdcWgQodRBAAQA ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Microwave || Kitchen product || $60.00 || Necessity || https://www.google.com/shopping/product/5691876805512463040?safe=strict&biw=1600&bih=872&sclient=psy-ab&q=microwave&oq=microw&pbx=1&bav=on.2,or.r_qf.&pf=p&sugexp=msedr&gs_rn=61&gs_ri=psy-ab&ds=sh&pq=quilt+bedding+sets&cp=6&gs_id=11&xhr=t&tch=1&ech=8&psi=X1zSVI-mKKTIsQTr94KYAg.1423072647353.3&ei=lF3SVNvpFYPjsATcwoKYAQ&ved=0CM0CEKYrMAo ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Chairs || folding chairs || $10.00 || Necessity || https://www.google.com/shopping/product/527340417171381455?safe=strict&biw=1600&bih=872&sclient=psy-ab&q=+folding+Chairs&oq=+folding+Chairs&pbx=1&bav=on.2,or.r_qf.&bvm=bv.85142067,d.cWc&tch=1&ech=1&psi=bV7SVO38NbTPsQTJ3ILIDw.1423072879622.3&prds=paur:ClkAsKraX7x8xiCymyx-CYSnTKSNGaug3Fg9DITsGp1-vvyD5c2Lb9QBjydK8HbzlpTJDGUSoBovN2xaKhGp5Yoj9mmLnRs6fKO1Mgd-nNDVrZNTnx4Ga5jsaBIZAFPVH73d1Vp7OSkMfrdliiB9zN_cGS-_ug&ei=f17SVPigE6XksATLuYKQAg&ved=0CJYBEKYrMAA ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Refridgorator ||  || ? || Necessity || https://www.google.com/shopping/product/1163799718757883924?safe=strict&biw=1600&bih=872&q=cheap+refrigerator&spell=1&bav=on.2,or.r_qf.&bvm=bv.85142067,d.cWc&tch=1&ech=1&psi=E1_SVIjuCIe1sASItoCIAg.1423073044447.5&prds=paur:ClkAsKraX5txI2CAqXiTsOvDA9RcIrKcrrwMavI11BdCC8AKrMEVHSIyUNihovxk1qRzn1krYTB5xXLsaiW0o8m9TA2NeMvRxQ5zWhT-gVzvg18Wq4kqF0nQ2hIZAFPVH70pCy6cdwNYQF1ggsJru5BtUfF4Tg&ei=LF_SVMewK-3isATDq4Ig&ved=0CKYBEKYrMAE ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||