Personal Finance – 5/23/17
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
- Calculate compound interest and determine the monthly balance for a credit card.
- Develop a personal finance strategy for earning, spending, saving and investing resources.
III. Classwork
- Practice test and review on iLearn – Parts A & B
- Banzai – Due on Thursday at the end of class
Leave a Reply