Personal Finance – 5/19/17

I.   Bellwork – Show you work

A.  If you invest $1200 a year at 3% interest , how much money will you have at the end of 1 year? Show your work and round to the nearest penny.

B.  If you invest $1200 a year at 3% interest, how much money will you have at the end of 2 years? Show your work and round to the nearest penny.

C. How long will it take you to double your money if you invested $2000 that annually earned 4% interest? Show your work (Rule of 72)

 

II. Objectives:

• Determine the meaning of words and phrases relating to types of credit, credit agreements, and sources of credit
• Create thinking maps based upon information in the text to distinguish between types of credit and explain various sources of credit.

III.  Notebook & Discussion

• Comparing Terms cardhub.com/credit-cards/

IV.   Classwork:  Chapter 16.2 – Due today – No exceptions

A.   Vocabulary 9  – page 363

B.   Questions & Answers (Write them out)

1. What is a charge card?
2. List examples of a charge card.
3. What are the benefits of a charge card?
4. Explain revolving credit.
5. What are 6 main terms you should examine before selecting a credit card?
6. Explain the difference between transaction fees and penalty fees.
7. List some examples of closed-end credit.
8. What are some common types of service credit.
9. List 3 examples of a retail store credit cards.
10. What is an affinity card?
11. Explain the two different types of finance companies and how they operate.

Personal Finance W2017