Explain APR vs. APY.
Introduce both formula calculations and work problems.
Notice difference in total charges based on the effects of compound interest in APY.
How do banks and credit card companies use these calculations.
We continued to practice calculating how deferred payments work. It is pretty tedious work but its part of the curriculum. I think he realizes that if you can pay your bill in full its cheaper but also knows how credit can help your business as long as you stay on top of the charges.
Learn how to record check and amount.
Learn how to determine balance.
Reconcile with monthly account report.
Learn about overdraft fees and insufficient fund charges.
Investigate what types of bank accounts are available and would be appropriate for you.
Review problems solving and calculations.
Take exam.
Assignment
none
Session Minutes
180
Minutes Student Attended
180
Lesson Comments
Alex is not interested in learning how to do these calculations or why it is important to learn this information. We did the exam with open notes and worked together on the problems. He got a 75.
Learn how to set up a spreadsheet using columns and rows. Learn how to sum and average using command keys.
Think about how to set up speadsheet that can be used for work.
Assignment
none
Session Minutes
180
Minutes Student Attended
180
Lesson Comments
Alex seemed interested in learning how to set up a spreadsheet and see what it could do for record keeping.
Get the business bio of several companies. Where are they located? What is the annual income? What is the annual production? What are the current financial difficulties facing these companies? How is competition with China and counterfeit products affecting these companies?
Assignment
none
Session Minutes
180
Minutes Student Attended
180
Lesson Comments
Spent most of the class researching topics on the internet but also had good discussions as we discovered new information.
Research the interest rates on car loans.
Calculate how much you would pay in interest based on 20,000 loan.
Examine payments using simple interest vs. compound interest.
Graph results.
Assignment
none
Session Minutes
180
Minutes Student Attended
180
Lesson Comments
All of these calculations are being completed together.