New+home+ICS17StraA


 * Fridge || 23.8 inch freezer/fridge || $399 || luxury ||
 * Couch || brown, leather || $298 || luxury ||
 * bed || pink, frame, cover || $109 || luxury ||
 * mattress || soft, nice || $89.00 || luxury ||
 * dinner set || 42 piece, cups, plates, silver ware || $149.00 || luxury ||
 * lamp || 2 lamps, silver, || $70.00 || luxury ||
 * coffee table || white, small || $67.72 || luxury ||
 * desk || dark brown, L shape || $85.00 || necessity ||
 * desk chair || kinda ugly, chair with wheels || $29.00 || necessity ||
 * stove || stove, microwave,oven || $2,999.00 || necessity ||
 * bookshelf || silver, tan, tall || $74.69 || luxury ||
 * dinning table/ chairs || brown, soft chairs, wood || $179.00 || luxury ||
 * ceiling fan || lamp, brown || 51.79 || luxury ||
 * rug, towels, wash cloth || blue, soft || $24.50 || necessity ||
 * laptop || used apple laptop || $349.99 || luxury ||
 * curtains || black || 6 || luxury ||
 * dresser || chocolate colored, mirror || $196.60 || necessity ||
 * washer || nice, white || 719.99 || necessity ||
 * dryer || white, big || 398.7 || necessity ||
 * 3 mirrors || gold, interesting || 28.97 || luxury ||
 * clock || alarm clock, and regular clock || 63.99 || luxury ||
 * dish washer || silver, built in || 317.99 || necessity ||
 * art work || sunset || 609 || luxury ||
 * plants || fake || 88.99 || luxury ||

> . Copy the completed spreadsheet and paste in on your NewHomecodeinitials page below the purchases for you new home spreadsheet.
 * 1) Create a new wiki page for you to use called **NewHomecodeinitials.**
 * 2) 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)
 * 3) Complete the Compound Interest spreadsheet with Mrs. Carrier. Determine what your monthly paywould would have to be to pay off the $10.000 with 15% APR making regular payments for 36 months
 * 1) **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.
 * 2) 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. Answer the following questions on your 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.


 * 1) Read the book Smart Spending on MyOn. Copy the terms below to your NewHOmecodeinitials page. As you read the book, define the terms. Put the definitions on your wiki page.

__**Answers**__

1.) done 2.) done 3.) I would have to pay $400 a month to pay for all the furniture I bought 4.) Done 5.) with the value of $10,000.I Entered an interest rate of 15% for 5 years and got the answer of $17.000.00 6.) a) that statement it completely **true**, because with a debit card you pay now but with a credit card you pay later. b) I believe that's **true**, i do know that you have to have your interest rate lower though c) **True** because once you are able to pay your money your not in debt anymore obviously and its better not to be in debt. d) **True** because once you don't pay your credit card debt then you wont have a good credit score and you wont be able to get a car or a house. 7.) -not having to pay now -they keep track of how much you are spending -some credit cards offer rewards when you spend a certain amount of money - its easy to over spend -banks charge interest for borrowing a credit card - not all stores accept credit because credit card companies charge fees -is Accepted everywhere -faster then a credit card  -easier to get credit cards  -debit cards keep a track of what your spending -if you spend more than you have in your account you will get fees -debit cards don't have as much protection against fraud than credit cards -doesn't help build your credit history -rewards for debit card are very rare
 * || APR=15% || Compound Interest ||  ||
 * Principal || % per month || Amount Due || Payment ||
 * $10,000 || 1.25% || $10,125 || $400 ||
 * $9,725 || 1.25% || $9,847 || $400 ||
 * $9,447 || 1.25% || $9,565 || $400 ||
 * $9,165 || 1.25% || $9,279 || $400 ||
 * $8,879 || 1.25% || $8,990 || $400 ||
 * $8,590 || 1.25% || $8,698 || $400 ||
 * $8,298 || 1.25% || $8,401 || $400 ||
 * $8,001 || 1.25% || $8,101 || $400 ||
 * $7,701 || 1.25% || $7,798 || $400 ||
 * $7,398 || 1.25% || $7,490 || $400 ||
 * $7,090 || 1.25% || $7,179 || $400 ||
 * $6,779 || 1.25% || $6,863 || $400 ||
 * $6,463 || 1.25% || $6,544 || $400 ||
 * $6,144 || 1.25% || $6,221 || $400 ||
 * $5,821 || 1.25% || $5,894 || $400 ||
 * $5,494 || 1.25% || $5,562 || $400 ||
 * $5,162 || 1.25% || $5,227 || $400 ||
 * $4,827 || 1.25% || $4,887 || $400 ||
 * $4,487 || 1.25% || $4,543 || $400 ||
 * $4,143 || 1.25% || $4,195 || $400 ||
 * $3,795 || 1.25% || $3,843 || $400 ||
 * $3,443 || 1.25% || $3,486 || $400 ||
 * $3,086 || 1.25% || $3,124 || $400 ||
 * $2,724 || 1.25% || $2,758 || $400 ||
 * $2,358 || 1.25% || $2,388 || $400 ||
 * $1,988 || 1.25% || $2,013 || $400 ||
 * $1,613 || 1.25% || $1,633 || $400 ||
 * $1,233 || 1.25% || $1,248 || $400 ||
 * $848 || 1.25% || $859 || $400 ||
 * $459 || 1.25% || $465 || $400 ||
 * $65 || 1.25% || $65 || $400 ||
 * -$335 || 1.25% || -$339 || $400 ||
 * -$739 || 1.25% || -$748 || $400 ||
 * -$1,148 || 1.25% || -$1,162 || $400 ||
 * discretionary spending- money spent by consumers.
 * net worth-amount left when you subtract what you owe and what you own
 * giving- donating someone something
 * savvy shopping- is wanting to buy something the moment you see it.
 * budget- limit to spending money
 * debt- money that's owed or due.
 * credit card pros and cons-
 * Pros- **
 * Cons-**
 * debit card pros and cons-
 * Pros- **
 * Cons- **
 * borrow and down payment-if you borrow money from a bank you will some time going to have to pay it off
 * APR- annual percentage rate
 * credit score- keeps track of when you pay off money, if tou have a good credit score you would be able to buy a car a house but with a bad credit score you wont be able to be.
 * public and private colleges-private collages may seem more but they always wont be baced on your situation.

=**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?=