Credit Cards: Fundamental purpose and use of credit cards. Approval of credit cards based upon credit scores and income/employment status. Credit card charges and payments on a monthly basis. Interest charges for credit card balances paid late. Credit cards vs Debit cards. Major banks as "owners" of credit card companies. Store/retailer credit cards.
Assignment
Read text pp. 249-253
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
During today's session on Credit Cards and borrowing, Colson was very attentive and demonstrated some prior knowledge of usage of Credit Cards. We also discussed Credit Ratings, Credit card interest, and the significant differences between Credit Cards and Debit Cards.
Completion Risk and Credit Quiz: Half Period. Introduction to Credit Cards and Interest
charges with Credit Cards. Discussion of Banks as "parent companies" of numerous credit cards. Credit Rating and borrowing risk involved with issuing new Credit Cards
Assignment
Read Text Ch. 12 pp. 243-248
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
During today's session, Colson completed his Risk and Credit Quiz. He demonstrated familiarity and a clear comprehension of the new topic of Credit Cards purpose and
related payments/charges.
Quiz on Risk, Credit/Borrowing ,and calculation of Simple Interest. Full period Quiz.
Assignment
None
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
Colson worked diligently and productively on today's Quiz involving Financial Risk and Credit/Borrowing. It is evident that the complete and accurate notes that he is recording during daily classes are benefiting him significantly on the assessments in this course.
Review for Risk and Credit Quiz: Definition of Risk, Fluctuations of value, Key factors involved in evaluating risk. Credit: Ability to borrow from a lender.
Reasons why companies and investors borrow large sums of money. Credit Ratings/Credit Score. Interest and formula for calculating simple interest from a given principal.
Assignment
Study for the Quiz
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
During today's review session for the Risk and Credit/Borrowing Quiz, Colson was very attentive and took comprehensive notes. This material on Risk and Credit/Loans is essential for him to comprehend and could make a significant difference in his future business endeavors.
Review for Risk and Credit Quiz. Key factors involved with financial risk. Credit Scores/Ratings. Definition of Credit: Borrowing criteria for lenders: Loan principal, interest (APR) , and term/length. Inverse relationship between monthly payments on loans and the loan term.
Review for Financial Risk and Credit/Borrowing Quiz. . Various key terms and Example problem to show calculation of loan Interest using the I = PRT formula.
Lesson Outline
Review for Financial Risk and Credit/Borrowing Quiz. . Various key terms and Example problem to show calculation of loan Interest using the I = PRT formula.
Fundamentals of Credit and Borrowing: Principal, Interest, Loan Term, Monthly Payments etc.
Examples of Credit Rating/Credit Score. Demonstration problem involving inverse relationship between loan term length and monthly payments. Use of online Intuit loan calculator.
Assignment
None
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
During today's lesson on Credit and Borrowing, Colson learned several important fundamentals and was very attentive. He was given a comprehensive example of comparing 2 Companies loans having equal principals but vastly different monthly payments due to the large difference in the length/terms of these loans.
Fundamentals of Credit and Borrowing: Credit Scores/Credit Rating,
Loans: Principal, Interest Rate and Term of Loan, Inverse Relationship of Term Length and Monthly Payment Amounts.
Assignment
None
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
Colson was very engaged in today's session on Credit, Borrowing, and the Basics of loans. Definitions of Principal, Interest Rates/APR, and Term of loans/mortgages were provided and several practical examples were presented which Colson related to.
Credit and Borrowing: Credit Definition as money borrowed from a lender with the requirement that the loan/credit will be paid back within a specific period of time. Discussion of why individuals and/or companies choose to borrow money and why lenders will loan money to businesses or individuals with a high credit rating. Credit score explained and practical examples provided. Interest paid to lenders as a fee for granting a loan. Concept of borrowing in order to spend/invest in business improvements and/or products development.
Assignment
Read Text pp. 200-205
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
During today's lesson on Credit and Borrowing, Colson was attentive and appeared to have a keen understanding of why businesses and/or individuals borrow money to improve products, services, etc. The concept of Credit Rating and Credit Score was explained to Colson to illustrate why banks and lenders choose to loan large sums of money to responsible, trustworthy borrowers.
Risk Analysis for investments and business ventures. Display of graphs of various stocks share prices to illustrate high volatility/high risk stocks as well as stable/low risk investments.
Assignment
Read Text pp.
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
Today's lesson with Colson was abbreviated due to the Drug/Alcohol presentation.
