We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byMicah Gilyard
Modified over 2 years ago
Financial Algebra © Cengage/South-Western Slide CREDIT CARD STATEMENT To identify and use the various entries in a credit card statement. OBJECTIVES
Financial Algebra © Cengage Learning/South-Western Slide 2 billing cycle credit card statement account number credit line available credit billing date payment due date transactions debit/credit previous balance payments/credits new purchases late charge finance charge new balance minimum payment average daily balance number of days in billing cycle APR monthly periodic rate Key Terms
Financial Algebra © Cengage Learning/South-Western Slide 3 The summary portion of Jane Sharp ’ s credit card statement shown is above. a. Explain how the new purchases amount was determined. b. Explain how the new balance amount was determined. Example 1
Financial Algebra © Cengage Learning/South-Western Slide 4 The summary portion of Jane Sharp ’ s credit card statement shown is above. a. Explain how the new purchases amount was determined. b. Explain how the new balance amount was determined. Example 1
Financial Algebra © Cengage Learning/South-Western Slide 5 Suppose you create the following spreadsheet that models the statement summary and input the values in row 2. Write the spreadsheet formula to compute the new balance in cell F2. CHECK YOUR UNDERSTANDING
Financial Algebra © Cengage Learning/South-Western Slide 6 Pascual has a credit line of $15,000 on his credit card. His summary looks as follows. How much available credit does Pascual have? Example 2
Financial Algebra © Cengage Learning/South-Western Slide 7 Rhonda had a previous balance of $ and made an on-time credit card payment of $ She has a credit line of x dollars and made purchases totaling y dollars. Write an algebraic expression that represents her current available credit. CHECK YOUR UNDERSTANDING
Financial Algebra © Cengage Learning/South-Western Slide 8 Myrna is examining the summary section of her credit card statement. Myrna has checked all the entries on her bill and agrees with everything except the new balance. Determine where the error was made. Example 3
Financial Algebra © Cengage/South-Western Slide LOANS Read monthly payments from a table. Compute monthly payments using a formula. Compute finance.
Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide FUTURE VALUE OF INVESTMENTS Calculate the future value of a periodic deposit.
Buy Now, Pay Later Many people make purchases using credit cards. Why might you want to buy something using a credit card instead of cash?
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 4-1 Preparing a Chart of Accounts.
Credit Cards. Question 1 How many credit cards does the average family have: – A. 3 – B. 6 – C. 8 – D.10 Answer: 8.
Charge It Right. Charge It Right 2 1. Agenda 2. Ground Rules 3. Introductions Welcome.
Copyright, 1996 © Dale Carnegie & Associates, Inc. HOW TO CHOOSE A CREDIT CARD MINI-LESSON INDIANA DEPARTMENT OF FINANCIAL INSTITUTIONS CONSUMER EDUCATION.
Credit Card Processing 101 June 2010 Confidential & Proprietary to First Data CorporationDeveloper: 10Rev 06/16/2010 V1.0 First Data Learning Organization.
1 Credit Card Basics What you need to know before signing up…
Credit Cards 101. Shopping for A Credit Card Comparison shop credit cards Dont take the first offer that comes to you: –Pre-approval Means nothing No.
Credit Card Understanding a Credit Card Take Charge of Your Finances Advanced Level.
Credit Card Understanding Your Credit Card Credit Unit Take Charge of Your Finances.
Credit Cards Avoiding the Credit Trap. Credit Cards Credit cards are a good way to build credit, if used wisely Receive monthly statements. Can be mailed.
Family Economics & Financial Education G1 © Family Economics & Financial Education – Revised October 2004 – Credit Unit – Selecting a Credit Card.
1 Learning Objectives for Section 3.2 After this lecture, you should be able to Compute compound interest. Compute the annual percentage yield of a compound.
Teacher instructions: 1.Print 2.Display slide 2 with Procedure step 1 in the lesson. 3.Display slides 3 and 4 with Procedure step 2. On this slide, and.
Copyright © Cengage Learning. All rights reserved. Chapter 7 Cash and Receivables.
NEFE High School Financial Planning Program Unit 4 – Good Debt, Bad Debt: Using Credit Wisely Good Debt, Bad Debt: Using Credit Wisely Good Debt, Bad Debt:
Copyright © Cengage Learning. All rights reserved. 2 The Mathematics of Finance.
Do Now 1) What does APR stand for? 2) What is the cost of credit?
Credit Card Traps and PowerPay Debt Reduction Program.
Section 6.1 The Fundamentals of Algebra Math in Our World.
Chapter 7 Credit Cards and Consumer Loans. Copyright © Houghton Mifflin Company. All rights reserved.7 | 2 Learning Objectives 1.Compare the common types.
Accounting and Financial Reporting Back to Table of Contents.
Copyright © 2011 Pearson Education, Inc. Managing Your Money.
Choosing and Using Credit Cards. Beware of the Free Shirt! Many credit card companies offer students free items just for filling out an application. Every.
Working Capital Control What is it? –Essentially net current assets (but strictly speaking should exclude cash) Why is it important? –Cash tied up in day-to-day.
Credit Card Understanding Your Credit Card Credit Cards 101 Trivia.
Financial Algebra © Cengage/South-Western Slide FIND A PLACE TO LIVE Calculate the affordability of a monthly rent. Determine the relationship between.
Your Financial Education Guide. The Basic ABCs of Finance Income Opening Accounts Creating a Budget Financial Goals Money Management Borrowing Money Credit.
© 2016 SlidePlayer.com Inc. All rights reserved.