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
- What is his credit balance the first month?
- What is his credit balance the second month?
- 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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