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 * ** 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 ||
 * Refrigerator || French Door || $1,899.00 || Necessity ||
 * PS4 || Video Game Console || $249.99 || Necessity ||
 * Couch || Gray Sofa || $555.00 || Luxury ||
 * Washing Machine || High Efficiency washer || $529.00 || Necessity ||
 * Dinner Table || Brown rectangle table || $349.99 || Necessity ||
 * Silverware || Golden Silverware || $199.99 || Necessity ||
 * Dinner Table Chairs || Grey Chair || $119.99 || Luxury ||
 * Bed || King Size bed || $749.99 || Luxury ||
 * Stove || Steel Stove || $1,597.50 || Necessity ||
 * Roomba Vacuum || iRobot || $699.99 || Necessity ||
 * Speaker || Black speaker || $349.95 || Necessity ||
 * Blanket || Red Blanket || $47.99 || Necessity ||
 * Microwave || Kenmore Microwave || $199.99 || Necessity ||
 * Pillows || White Pillows || $45.00 || Luxury ||
 * Router || 4G Router || $29.99 || Necessity ||
 * Sheets || Comforted Sheets || $9.99 || Luxury ||
 * Towels || Beige Towels || $24.99 || Necessity ||
 * Shower Hook || Metal Hook || $10.00 || Necessity ||
 * Shower Curtain || Blue Shower Curtain || $29.99 || Necessity ||
 * Desk || Gaming Desk || $299.99 || Necessity ||
 * Desk || Brown Desk || $139.00 || Necessity ||
 * Light Bulbs || White Light Bulbs || $13.97 || Necessity ||
 * Chandelier || Mini Style Chandelier || $25.98 || Necessity ||

You have copied and pasted the forumula for the monthly interest payment incorrectly, so you have not determined how much to pay each month to pay off the amount owed in 3 years.
 * || APR=15% || Compound Interest ||  ||
 * Principal || %Month || Amount Due || Payment ||
 * $10,000 || 1.25% || $10,125 || $372 ||
 * $10,001 || 1.25% || $10,126 || $373 ||
 * $10,002 || 1.25% || $10,127 || $374 ||
 * $10,003 || 1.25% || $10,128 || $375 ||
 * $10,004 || 1.25% || $10,129 || $376 ||
 * $10,005 || 1.25% || $10,130 || $377 ||
 * $10,006 || 1.25% || $10,131 || $378 ||
 * $10,007 || 1.25% || $10,132 || $379 ||
 * $10,008 || 1.25% || $10,133 || $380 ||
 * $10,009 || 1.25% || $10,134 || $381 ||
 * $10,010 || 1.25% || $10,135 || $382 ||
 * $10,011 || 1.25% || $10,136 || $383 ||
 * $10,012 || 1.25% || $10,137 || $384 ||
 * $10,013 || 1.25% || $10,138 || $385 ||
 * $10,014 || 1.25% || $10,139 || $386 ||
 * $10,015 || 1.25% || $10,140 || $387 ||
 * $10,016 || 1.25% || $10,141 || $388 ||
 * $10,017 || 1.25% || $10,142 || $389 ||
 * $10,018 || 1.25% || $10,143 || $390 ||
 * $10,019 || 1.25% || $10,144 || $391 ||
 * $10,020 || 1.25% || $10,145 || $392 ||
 * $10,021 || 1.25% || $10,146 || $393 ||
 * $10,022 || 1.25% || $10,147 || $394 ||
 * $10,023 || 1.25% || $10,148 || $395 ||
 * $10,024 || 1.25% || $10,149 || $396 ||
 * $10,025 || 1.25% || $10,150 || $397 ||
 * $10,026 || 1.25% || $10,151 || $398 ||
 * $10,027 || 1.25% || $10,152 || $399 ||
 * $10,028 || 1.25% || $10,153 || $400 ||
 * $10,029 || 1.25% || $10,154 || $401 ||
 * $10,030 || 1.25% || $10,155 || $402 ||
 * $10,031 || 1.25% || $10,156 || $403 ||
 * $10,032 || 1.25% || $10,157 || $404 ||
 * $10,033 || 1.25% || $10,158 || $405 ||


 * discretionary spending- Another term for want.
 * net worth- Amount that you subtract from what you owe.
 * giving- Loaning over or giving your bank what you need to cover.
 * savvy shopping- It is asking yourself if you need or if you want.
 * budget- A budget is a road map for your money to follow.
 * debt- When you overdue your credit card.
 * credit card pros and cons- Pros- Tracking. Credit card statements provide a nice monthly record of how much you spend. Cons- Too convenient. Credit makes it to easy to overspend.
 * debit card pros and cons- Pros- Accepted nearly everywhere. Cons- Buying with debit cards doesn't help build up credit history
 * borrow and down payment- Borrowing is a loan to get something you need like a house, a car, etc. Down Payment- Borrow from your bank.
 * APR- Annual Percentage Rate
 * credit score- Is determining on whether you are a smart spender and a responsible spender.
 * public and private colleges- Private- You have to pay more for private tuition and less for Public Universities


 * Making only the minimum monthly payment will get you out of debt quicker? True or False. Justify your answer with examples. False because it will take you longer if you have to pay $100 dollars in that month if you put in a dollar a day you will not be able to get out of debt quicker because you might not pay it off before the grace period ends.
 * The higher the interest rate, means you will pay less interest in the long run? True or False. Justify your answer with examples. False because if you have a high interest and you get paid low interest you will not pay it off in time.
 * Paying down on the principal will get your out of debt faster? True or False. Justify your answer with examples. True but it depends how much money you are trying to pay off.
 * You should pay off your credit card bill every month? True or False. Justify your answer with examples. Yes because you will overdue your amount of money and you will eventually you will go into debt.

=**Questions:**=


 * 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, compound 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?=