New+Home+ICS17AltaA

New Home Spreadsheet
 * ** How would **
 * You Spend $10,000 Dollars ** ||
 * ||  |||| Total Spent ||
 * ||  |||| ** $5,987.56 ** ||
 * ** Item ** || ** Description ** || ** Item Value ** || ** Luxury **
 * Necessity ** ||
 * Couch || Dark gray || $599 || luxury ||
 * Bed || Brown || $300 || luxury ||
 * Fridge || Silver || $1,530 || necessity ||
 * Table || Brown || $66.00 || ? ||
 * Washing Machine || White || $399.00 || ? ||
 * Drying Machine || White || $299.00 || ? ||
 * Television || Flat Screen/ Black || $699.00 || ? ||
 * Stove || Black and silver || $649.99 || ? ||
 * Microwave || Black and silver || $279.00 || ? ||
 * Forks || Silver || $3.00 || ? ||
 * Glass Cup || Clear and Purple || $1.99 || ? ||
 * Gaming Chair || Red and Black || $175.99 || luxury ||
 * PS4 || Sony · PlayStation · PlayStation 4 · PlayStation 4 (Original) · 500 GB · Blu-ray Compatible · With Motion Control · PlayStation Network / Plus · PlayStation Now || $259.99 || luxury ||
 * Vacuum || Patented self-cleaning brushroll removes tangled hair from the brushroll with the touch of a button. Lifetime belt reduces your maintenance costs because you never have to ... || $243.99 || ? ||
 * Vase || Conjuring visions of crashing waves, the Seaview Swirl bottle vase by Lenox is a stunning example of artistry in crystal. With subtle hues that evoke a sparkling sea, it's sure ... || $49.99 || ? ||
 * Plant || Peace Lily || $99.99 || ? ||
 * Iron || Find Garment Irons and Steamers at Target.com! Make ironing easy with a Sunbeam Turbo Steam Master and Touch Up and Go Iron Bundle. Each Sunbeam iron has adjustable temp ... || $39.99 || ? ||
 * Rug || Bring classic style to your bedroom, living room, or home office with a richly-dimensional Safavieh Cambridge Rug. Artfully hand-tufted, these plush wool area rugs are crafted ... || $96.04 || ? ||
 * Big Joe || The Big Joe Bean Bag Collection Offers The Ulimate In Style, Color And Comfort Some Say The Streets Of Milan Are Paved With Fashion. We’D Say Those People May Need A Refresher ... || $25.00 || ? ||
 * Speakers || The beFree Sound 5.1-channel Bluetooth speaker system with an amplifier, consists of five 2 1/2" speakers to provide great audio performance. This speaker system in red, uses ... || $80.99 || ? ||
 * Shelf || Ideal for your binders, books or decorative items, this versatile 5-shelf bookcase can meet all your storage needs. Both functional and attractive with its sleek contemporary ... || $89.62 || ? ||

Compound Interest Spreadsheet With this monthly payment of $372, I will pay this off in 36 months.
 * || APR=15% || Compound Interest ||  ||
 * Principal || %/Month || Amount Due || Payment ||
 * $10,000 || 1.25% || $10,125.00 || $372 ||
 * $9,753 || 1.25% || $9,874.91 || $372 ||
 * $9,503 || 1.25% || $9,621.70 || $372 ||
 * $9,250 || 1.25% || $9,365.32 || $372 ||
 * $8,993 || 1.25% || $9,105.74 || $372 ||
 * $8,734 || 1.25% || $8,842.91 || $372 ||
 * $8,471 || 1.25% || $8,576.79 || $372 ||
 * $8,205 || 1.25% || $8,307.35 || $372 ||
 * $7,935 || 1.25% || $8,034.55 || $372 ||
 * $7,663 || 1.25% || $7,758.33 || $372 ||
 * $7,386 || 1.25% || $7,478.66 || $372 ||
 * $7,107 || 1.25% || $7,195.49 || $372 ||
 * $6,823 || 1.25% || $6,908.78 || $372 ||
 * $6,537 || 1.25% || $6,618.49 || $372 ||
 * $6,246 || 1.25% || $6,324.58 || $372 ||
 * $5,953 || 1.25% || $6,026.98 || $372 ||
 * $5,655 || 1.25% || $5,725.67 || $372 ||
 * $5,354 || 1.25% || $5,420.59 || $372 ||
 * $5,049 || 1.25% || $5,111.70 || $372 ||
 * $4,740 || 1.25% || $4,798.94 || $372 ||
 * $4,427 || 1.25% || $4,482.28 || $372 ||
 * $4,110 || 1.25% || $4,161.66 || $372 ||
 * $3,790 || 1.25% || $3,837.03 || $372 ||
 * $3,465 || 1.25% || $3,508.34 || $372 ||
 * $3,136 || 1.25% || $3,175.55 || $372 ||
 * $2,804 || 1.25% || $2,838.59 || $372 ||
 * $2,467 || 1.25% || $2,497.42 || $372 ||
 * $2,125 || 1.25% || $2,151.99 || $372 ||
 * $1,780 || 1.25% || $1,802.24 || $372 ||
 * $1,430 || 1.25% || $1,448.12 || $372 ||
 * $1,076 || 1.25% || $1,089.57 || $372 ||
 * $718 || 1.25% || $726.54 || $372 ||
 * $355 || 1.25% || $358.97 || $372 ||
 * -$13 || 1.25% || -$13.19 || $372 ||

__**Questions**__ Why do people use credit cards? People use credit cards to buy something expensive but they know they have to pay it off.

What are advantages and disadvantages of credit cards? Advantage: instant gratification. Disadvantage: you have to pay it off with interest.

What do the following terms mean? credit card, principal, APR, simple interest, compound interest, monthly payments **Credit card:** a small plastic card allowing people to purchase items **Principal**: the original amount of money **APR**: annual percentage rate **Simple Interest**: the money you can earn by investing some money **Compound Interest:** money calculated on the initial principal **Monthly Payments**: the amount of money a person owes in a 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? You will have a successful life without being in debt.

What is the most important idea you have learned from this lesson? You have to be careful on how you spend the money on your credit card.


 * **Making only the minimum monthly payment will get you out of debt quicker? True or False. Justify your answer with examples.** False, if you pay the minimum payment, it will take you longer to pay it off because the minimum payment will barely do anything to how much you owe. If i owe $10,000 with 15% interest in 20 years, I will be paying $40,000.
 * **The higher the interest rate, means you will pay less interest in the long run? True or False. Justify your answer with examples.** False, if you have a higher interest rate you will pay more in the long run.
 * **Paying down on the principal will get your out of debt faster? True or False. Justify your answer with examples.** True, if you pay down the principal, all you need to pay for now is the interest.
 * **You should pay off your credit card bill every month? True or False. Justify your answer with examples.** True, if you pay off your credit card bill every month, you will pay less since you are paying it off in a short amount of time.


 * **discretionary spending**- another term for wants.
 * **net worth**- the amount left when you subtract what you owe from what you own.
 * ** giving ** - another choice for spending your money such as donating your money.
 * ** savvy shopping ** - it is where you decide if the item is a need or a want, and if it's a want, wait a little bit to buy it.
 * ** budget **- a road map for your money to follow.
 * ** debt **- a certain amount of money you owe to a person or a company
 * ** credit card pros and cons **- Pro: instant gratification, and convenience. You don't have to wait to buy a good. Con: too convenient, easy to overspend.
 * ** debit card pros and cons **- Pro: accepted nearly everywhere. Con: if you spend more money than you have in your account, there are fees.
 * ** borrow and downpayment **- borrowing money from a bank but you eventually have to pay it back. It is usually 20% of the purchase price.
 * ** APR **- annual percentage rate, interest expressed over a year- long period.
 * ** credit score- ** used by banks to decide whether to lend you money
 * ** public and private colleges **- bigger expense for students but many schools give help to those in financial issues