YourNewHomeAJ315

Probable because of the fact that they dont have to pay now and up front they can pay later Advantages: It is a buy now pay later Disadvantages: You have to pay everything at the end of the month, it causes you to spend more,
 * Questions:**
 * ** Why do people use credit cards? **
 * ** What are advantages and disadvantages of credit cards? **


 * ** What do the following terms mean? credit card, principal, APR, simple interest, monthly payments **
 * Credit Card: **a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.
 * Principal:** a sum of money lent or invested on which interest is paid.
 * APR: **The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan.
 * Simple Interest:** a quick method of calculating the interest charge on a loan.


 * Monthly Payment: **The amount paid each month towards the principal and interest amount of a loan.

Understanding calculations can better further my financial payments and help me pay on time and have a better credit score. Understanding math is important for your future
 * ** 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? **
 * ** What is the most important idea you have learned from this lesson? **


 * ** How would **
 * You Spend $10,000 Dollars ** ||||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * ||  |||| Total Spent |||| Total Remaining: ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * ||  |||| ** $5,222.00 ** |||| ** $4,778.00 ** ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * ** Item ** || ** Description ** || ** Item Value ** || ** Luxury **
 * Necessity ** || ** Online Source ** ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * pillow || pilow || $6 || necessity || __ http://www.kmart.com/joe-boxer-sweet-dreamer-ultra-plush-bed-pillow/p-070W003384583000P?sid=KDx01192011x000001&kpid=070W003384583000&kispla=070W003384583000P&kpid=070W003384583000&mktRedirect=y __ ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * forks and spoon || cultery || $12 || necessity || __ [] __ ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * 3D printer || printer || $2,500 || Luxury || __ http://store.makerbot.com/replicator2x __ ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * printer ink || ink || 2400 || luxury || http://store.makerbot.com/filament/pla#rep2-truered ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Army Cot || bed || 100 || necessity || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Blanket || blanket || 60 || necessity || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Refrigerator || Refrigerator || 85 || necessity || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Microwave || Microwave || 45 || necessity || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Two Lawn Chairs || lawn chairs || 14 || necessity || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||