Example 2 Credit Card Debt Chapter 2.1 It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest.

Slides:

Advertisements

Similar presentations

CREDIT ESSENTIALS Introduction to Business and Marketing – Ch 25.1.

Advertisements

Cost of credit 18-2.

Fill-in headings across in the first row. (Type "Month in cell A1, Beginning Balance in cell B1, etc…) Month Beginning BalancePaymentInterestPrincipalEnd.

Example 3 Market Equilibrium Chapter 2.3 Suppose the daily demand for a product is given by, where q is the number of units demanded and p is the price.

Example 1 Matrix Solution of Linear Systems Chapter 7.2 Use matrix row operations to solve the system of equations  2009 PBLPathways.

Example 3 Inverse of a 3 x 3 Matrix Chapter 7.4 Find the inverse of.  2009 PBLPathways.

Example 2 Finding an Inverse Matrix Chapter 7.4 Find the inverse of.  2009 PBLPathways.

Equation of a Tangent Line

 We sell the goods on credit  Customers become debtors.  Some debtors may not be able to pay  When the business cannot collect back the money from.

Your Money and and Your Math Chapter Credit Cards and Consumer Credit

Introduction to Business and Marketing Chapter 26.2.

Example 5 Home Mortgage Chapter 5.6 A couple that wants to purchase a home with a price of $230,000 has $50,000 for a down payment. If they can get a 25-year.

Imple Interest. (Don’t write this slide – you will see it again) 1) You REALLY want to buy this car. It costs $15,000. You decide to get a five year loan.

Example 2 Future Value of an Annuity Chapter 5.6 Harry deposits $200 at the end of each month into an account that pays interest 12% per year, compounded.

Unit 6: Credit Section 3: Make Credit Work for You.

Lesson 1: Buying Furniture and Appliances Consumer Math p

Example 3 Loan Balance Chapter 1.3 A business property is purchased with a promise to pay off a $60,000 loan plus the $16,500 interest on this loan by.

Chapter 5 The Consumption Sector Copyright  2005 by The McGraw-Hill Companies, Inc. All rights reserved. 5-1.

STAGE 3 Stage 2: relative information Table number in source Presentation all tied together My from stage 2!! Stapled to the top. Outside info /

 Federal student loans usually have the lowest interest rate  Have to start making payments 6 months after graduation  Making payments while in school.

Chapter 4 “going into debt”

$ tartNow A 10 hour Financial Literacy Programme for young people on the Youth Payment and Young Parent Payment Scheme Delivered by New Zealand Federation.

Example 4 Loan Repayment Chapter 4.3 A business property is purchased with a promise to pay off a $60,000 loan plus the $16,500 interest on this loan by.

Credit Cards. Amortization Tables Fill-in headings across in the first row. (Type "Month in cell A1, Beginning Balance in cell B1, etc…) Month Beginning.

Credit Card © Family Economics & Financial Education – Updated May 2011 – Credit Unit – Understanding a Credit Card – Slide 1 Funded by a grant from Take.

Example 5 Advertising and Sales Chapter 6.5 Monthly sales y (in thousands of dollars) for Yang products are related to monthly advertising expenses x (in.

Good Debt vs. Bad Debt 7 th Grade Income vs. Expenses #3.

Exponential Growth & Decay in Real-Life Chapters 8.1 & 8.2.

Amortization M 110 Modeling with Elementary Functions V.J. Motto.

Chapter 5 The Consumption Sector. Chapter Objectives The average propensity to consume The average propensity to save The marginal propensity to consume.

When Credit Cards Attack! Interest on unpaid balance 14%, 20%, 32%... or more! Penalty fees for late payments.

DO NOW: What attitudes do people have about the use of credit?   Always pay cash, Credit.

Example 2 U.S. Foreign-Born Population Chapter 6.1 The table gives the percents of U.S. population that were foreign born for the years 1900–2005. Years.

Bankruptcy. A legal process to get out of debt when you can no longer make all your required payment.

Simple Interest Compound Interest. When we open a savings account, we are actually lending money to the bank or credit union. The bank or credit union.

Chapter 31 The Cost of Credit. Interest Calculations - Determining Factors  Interest Rates – The percentage that is applied to your debt expressed as.

Application Problems (or in other words…..Word Problems!)

1 Hello. What will we learn today? What will we learn today? Describe the functions of financial markets Unit: Money and Banking Day 2 What have.

Sales Tax, Discounts, and Commissions Section 6.7.

Chapter 4, Section 2. Types of Banks  Commercial Banks  Savings and Loan Associations  Savings Banks  Credit Unions  Finance Companies.

1 Chapter 2 Plugging the Holes. 2 What are three wealth building principles?

Why teenagers should not have credit cards

Business Bankruptcy Filings Source: Administrative Office of the U.S. Courts.

Credit Cards Buy now pay later. Objective: Include the cost of credit in weighing the expected costs and benefits of a purchase. People who make good.

© South-Western Educational Publishing Chapter 16 Credit in America  What Is Credit?  Types and Sources of Credit.

The History of Credit Cards Business Law II Chapter 33—Debtors, Creditors and Bankruptcy.

© 2010 Pearson Prentice Hall. All rights reserved. CHAPTER 5 Number Theory and the Real Number System.

DEBT MANAGEMENT CHAPTER 4, SECTION 5. I CAN… Analyze a credit card account when minimum payments are made. Calculate debt-to-income ratio.

What is Credit? CREDIT: supplying of money, goods, or services at present in exchange for the promise of future payment.

My Modest Proposal is Why pay for college Melissa McCorkle

Example 7 Marginal Revenue and Marginal Profit Chapter 1.3 A company produces and sells a product with revenue given by dollars and cost given by dollars.

Section % of what number is 75? 2. What percent of 25 is 4? 3. If you buy a shirt that was originally $45 but it is on clearance for 25% off,

A Dealing with Dollar $ workshop Understanding Credit and Debt.

Chapter 2 – Linear Equations and Functions 2.2 – Linear Functions and Function Notation.

0 Glencoe Accounting Unit 4 Chapter 18 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 18, Section 2 Adjusting Supplies, Prepaid.

Example 2 Average Cost Chapter 6.6 The average cost per set for the production of 42-inch plasma televisions is given by where x is the number of hundreds.

Chapter 7 Buying Decisions. Slide 2 Where Can Consumers Get Credit? Credit is the ability to borrow money and pay it back later. 7-2 Getting Started with.

Jenny Peters STDV B6 CREDIT The Good, The Bad, and The Ugly.

Objective: Students will identify the purpose of check cashing facilities and the reasons to avoid them. October 24, 2011.

Example 1 Solving a Nonlinear System Algebraically Chapter 7.5 Use substitution to solve the system and check the solution.  2009 PBLPathways.

Ms. Young Slide 4-1 Unit 4C Loan Payments, Credit Cards, and Mortgages.

Example 1 Graph of an Inequality Chapter 8.1 Graph the solution of the inequality.  2009 PBLPathways.

2.4.1.G1 © Family Economics & Financial Education – December 2005 – Get Ready to Take Charge of Your Finances – Take Charge of Credit Cards Funded by a.

Figuring Your Paycheck Life Choices _____. Introduction Main reason most of us work is to _____ Paychecks are used to pay for _____ Important to know.

Chapter 2 Lesson 1 Algebraic and Graphical Solutions of Linear Equations.

Advantage: Convenience  Credit is handy for shopping the Internet or eliminating the need to carry around large amounts of cash when shopping, renting.

7.6.7 Simple Interest.

Credit Scores Interest on Debt and Interest on Savings

Business and Consumer Loans

I have… I have… Who has 3:40? Who has 12:20? I have… I have…

Presentation transcript:

example 2 Credit Card Debt Chapter 2.1 It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America)  2009 PBLPathways

It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America)

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars An interest rate of about 10% on a credit card debt of $10,000 over 3 years will result in interest of $

 2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars An interest rate of about 10% on a credit card debt of $10,000 over 3 years will result in interest of $