Video Links 11-2
Videos:
Annual Percentage Rate – legal definition (time: 0:59)
https://www.youtube.com/watch?v=Y2iYzJ6Jl0k
Installment Loans and Credit Scores (time: 2:36)
… See the whole entry
Credit
Reference Topics 11-2
These sites will help you review and price a new car:
http://www.edmunds.com/
Kelley Blue Book:
http://www.kbb.com/
Reference Topics 11-1
There are many sources of sites related to the material of this chapter. Here are a few of the better ones. Compound interest calculator:
http://www.moneychimp.com/calculator/compound_interest_calculator.htm
This calculator uses continuous compounding:
http://www.moneychimp.com/articles/finworks/continuous_compounding.htm
Calculator and graphs for various financial situations:
http://www.moneychimp.com/index.html
U.S. … See the whole entry
Section 11.2: Installment Buying
11.2 Outline
- Terminology
- types of installments
- closed-end loan
- open- end loan
- ways of calculating interest
- add-on interest
- amortization
- types of installments
- . Add-on interest
- installment loan formulas
- buying a car
- Annual percentage rate (APR)
- APR formula
- compare 0% financing with APR
- . Open-end