Bell Ringer

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# Bell Ringer - PowerPoint PPT Presentation

Bell Ringer. Your bill at O'Charleys is \$35.00. You generally need to tip servers 20% of your bill. How much do you tip ? Bell ringers are being collected today. Bell Ringer Answer. \$44.75 * 20% = \$8.95. Agenda. Bell Ringer / Announcements / Attnd . –7 mins . Collect bell ringers.

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Presentation Transcript
Bell Ringer
• Your bill at O'Charleys is \$35.00. You generally need to tip servers 20% of your bill. How much do you tip?
• Bell ringers are being collected today.

\$44.75 * 20% = \$8.95

Agenda
• Bell Ringer / Announcements / Attnd. –7 mins.
• Collect bell ringers.
• True Cost of Ownership Activity – 63 minutes.
• People that DID NOT use a computer yesterday have first dibs on computers.
Learning Outcomes
• Analyze the history and evolution of credit.
• Demonstrate various ways people get into debt.
• Compare and contrast credit cards and debit cards.
• Explain how the debt snowball works.
• Evaluate and refute the myths associated with debt.
Test Statistics

Percentage Points:

63

65

75

78

79

79

81

84

86

87

87

88

88

91

92

92

97

97

97

97

100

RAW POINTS CONVERTED TO % POINTS

A (93 – 100%) - 5

B (86 – 92%) – 8

C (79 – 85%) – 4

D (70 – 78%) – 2

U (Anything below a 70%) – 2

Test Statistics
• Mean Score (Average): 86% - B
• Median Score (In the middle): 87% - B
• Mode Score (most repeated): 97% - A
Chapter 4 Vocabulary Terms
• Annual Fee
• Annual Percentage Rate
• ARM
• Balloon Mortgage
• Credit
• Credit Card
• Credit Limit*
• Debt Consolidation
• Debt Snowball
• Depreciation
• Finance Charge*
• Foreclosure
• Grace Period
• Home Equity Loan
• Introductory Rate*
• Lease
• Loan Term*
• Myth
• Tax Deduction
Vocabulary not in book
• Finance Charge
• A fee charged for the use of credit or the extension of existing credit. May be a flat fee or a percentage of borrowings, with percentage-based finance charges being the most common.
• Introductory Rate
• The low rate charged by a lender for an initial period to encourage borrowers to accept the credit terms. After the introductory period is over, the rate charged increases to the indexed rate or the stated interest rate. Often called a teaser rate or intro rate.
• Loan Term
• The number of months that a borrower has to repay a loan to a lender.
• Credit Limit
• The maximum amount of money that a credit lender will give to a borrower.
Ch. 4 Schedule – Before Spring Break
• Tuesday
• Dave Ramsey Parts 1 & 2
• Vocabulary
• Wednesday
• Dave Ramsey Parts 3
• Lottery Scavenger Hunt
• Thursday
• Dave Ramsey Parts 4 & 5
• True Cost of Ownership
• Friday
• True Cost of Ownership
Review Questions (Parts 1 and 2)
• What percentage of Americans are living paycheck to paycheck?
• What department store did not believe in or accept credit cards? What event and in what year led this department store to accept credit cards?
• What motor company did not offer credit on cars?
• In what year was the Diner’s Club founded? Who founded the club? What is the Diner’s Club?
• In what year did the first credit card become distributed? What company is responsible for the credit card?
• What percentage of marriages end in divorce? What is the number one cause of divorce in couples that are married for less than seven years?
• Why should you not let a friend or relative borrow money?
Review Questions (Parts 3 and 4)
• Why should you not co-sign on a loan for someone?
• What percentage of millionaires are first-generation millionaires?
• What were the total sales for lottery tickets in 2013?
• How much does the average high school graduate spend a month on the lottery vs someone with a college degree?
• How much is the average car payment?
Review Questions (Parts 5 & 6)
• A new car loses how much of its value in the first four years?
• When purchasing a home what type of mortgage does Dave Ramsey suggest you take out?
• When you use cash instead of plastic you spend ________% less, because spending cash hurts.
Review Questions (Parts 1 – 6)
• What percentage of Americans are living paycheck to paycheck?
• In what year did the first credit card become distributed? What company is responsible for the credit card?
• How much does the average high school graduate spend a month on the lottery vs someone with a college degree?
• How much is the average car payment?
• A new car loses how much of its value in the first four years?
• When you use cash instead of plastic you spend ________% less, because spending cash hurts.
Review Questions (Part 7 & 8)
• Explain debt consolidation.
• What is the most important key to building wealth?
• What are the 5 steps out of debt? (5 different people to answer)
Chapter 4 Test

True / False (10 ?’s) 2 points each = 20 pts

Matching (10 ?’s) 2 points each = 20 pts

Multiple Choice (30 ?’s) 2 points each = 60 pts

Short Answer (3 ?’s) 5 points each = 15 pts

Total Points = 115 Possible Points

You may use your book, notes, and a friend.

Due Date: Friday, April 20th.