Personal Finance – 1/17/17

I.  Bellwork

Kyle has a balance on his credit card of $4000.  His interest rate is 24%/year.  He makes a $250  payment  each month.

SHOW YOUR WORK FOR EACH PROBLEM

  1. What is his credit balance the first month?
  2. What is his credit balance the second month?
  3. What is his credit balance the third month?

II.  Objectives

  • Use a decision-making to evaluate the different aspects of personal finance including careers, savings and investing tools, and different forms of income generation
  • Apply concepts of scarcity and opportunity costs to personal financial decision making.
  • Apply terminology and concepts related to credit.
  • Calculate compound interest and determine credit balances

III,  Discuss Review Exercise on iLearn

IV.  Banzai – Due Today (Everyday late -5)

V.  Classwork

12.1 Definitions (10) Page 262


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