CHECKING
1. What is the benefit of using a checking account?
Savings
1. What is the benefit of using a savings account?
Buying a House
Watch the video below and follow the below steps:
1. Go to http://www.sibcycline.com/
2. Search for a house in which you would like to purchase.
3. Once you find a house that you like, click on it and then click on "Mortgage"
4. Answer the following questions (for some questions the answer is right there and for others you will need to do a little math).
- Sale Price?
- Down Payment?
- Loan Amount?
- Interest Rate of Loan?
- Number of Years to pay back Loan?
- Monthly Payment Amount?
- How much total money did you end up paying after the loan was completely repaid?
- How much total interest did you pay?
- What happens to the monthly payment and total amount repaid if you make a smaller down payment?
Buying a Car
1. Go to http://www.cars.com/
2. Search for a car in which you would like to purchase.
3. Once you find a car that you like, click on it and then click on "Finance & Loan Calculator"
4. Answer the following questions (for some questions the answer is right there and for others you will need to do a little math).
- Sale Price?
- Down Payment?
- Loan Amount?
- Interest Rate of Loan?
- Number of Months to pay back Loan?
- Monthly Payment Amount?
- How much total money did you end up paying after the loan was completely repaid?
- How much total interest did you pay?
- What happens to the monthly payment and total amount repaid if you make a smaller down payment?
What happens if you only pay the minimum on your credit card statement (follow the steps below)?
1. Go to http://www.bankrate.com/calculators/managing-debt/minimum-payment-calculator.aspx
2. Pretend you bought a new T.V. for $1,000 and only paid the minimum payment on your credit card statement.
3. How long would it take you to pay off the T.V.?
4. How much interest did you pay?
5. How much total did you pay?
Once you complete all of the the above - complete both of these activities below