Converting % to Decimal and vice versa (1) % Ownership of a Business (1) Reading Stock Market Data (1) Stock Buying and Selling Problem (1)

Checkbook Balance Problems (1) Checkbook Register Reconciliation (1)

Simple Interest Problems (1) Compound Interest Problems (1)

Periodic Deposits – Present & Future Value (2) Monthly Interest Calculation (3) % Ranking (1) Vocabulary (4)

•Page 7, #2 and 5

•Page 44, #4

•Convert % to decimal

Market Data, Close on June 20

Note: There is no after hours trading in this stock.

52-week High

52-week Low

Symbol

StockDay’s Close

Change

Sales in 100s

Day’s High

Day’s Low

143.25 73.25 PCUSouthern

Copper Corp.108.8

8 3.61 2643.7 110.68 105.68

42.97 32.95 T AT&T, Inc. 34.43 -0.7243386.

8 35.59 34.41

131.82 42.24 ESI ITT Ed Services 88.40 3.91 3429.5 90.71 82.06

50.48 36.01 JPMJPMorgan

Chase & Co. 37.86 -0.79 553772 39.19 36.95

• 1st see page 128, #6 •Quinton deposited a $587 bond interest check, a $187 stock dividend check, his weekly $1965.87 paycheck, and $200 cash into his checking account. If his starting balance was $300, what is his new balance?

• Erika has a savings account at a bank that charges a $20 fee for every month her balance falls below $3,000. Her account has a balance of $3,393.44 and today she withdraws $400. What will her balance be in 6 months, if she makes no additional deposits or withdrawals?

• You are reconciling your bank statement with your check register and you enter the outstanding values as listed below. What is your revised statement balance?

Reconciliation Worksheet Bank Statement ending balance: 12,000.00

Total deposits outstanding: 8000.00

Total withdrawals outstanding: 1000.00

Revised Statement balance: ??

•Why is Compound Interest is better for you?

•Abbreviations: p = Principle r = Interest rate in decimal t = time in years n = number of times interest calculated per year

•Problem #3 on page 159.Formulas will be written on the whiteboard.

I = p r t

B = p(1+r/n) (nt)

• Find the Simple Interest on a $2,350 principal deposited and held for 6 years at a rate of 4.77% .

• Kareca deposits $12,000.00 into an account that pays 3% interest compounded monthly. How much is in the account at the end of year 7?

Formulas will be written on the whiteboard.

I = p r t

B = p(1+r/n) (nt)

Formulas will be written on the whiteboard.

I = p r t

B = P(1+r/n) (nt)

• Martin deposits $1000.00 into an account that pays 6% interest compounded quarterly. How much is in the account at the end of 30 years?

(Which formula should I use?)

• Vocabulary:Quarterly, Biweekly, Simple Interest,

Compound InterestCheck Register, Hold, Reconcile, Interest

Formulas will be written on the whiteboard.

• Aaron buys some electronic gear for his high performance car. Its sale price is $5000. He will have monthly payments for 2 years at 6.5% interest. What is his monthly payment?

• Cheepo finally buys his wife a real diamond ring. He goes all out and buys a crystal clear diamond for $6000 from Kay Jewelers (b/c every kiss begins with a “Kay” – get it?). Anyway, he will have monthly payments for 5 years at 9% , what will his monthly payment be?

A Loan’s Monthly Payment – page 183

A Loan’s Monthly Payment – page 183

Formulas will be written on the whiteboard.

•Pachanea deposits $1000.00 into an account that pays 3% interest compounded monthly. How much is in the account at the end of 7 years?

• Devontae deposits $5000.00 into an account every month for 8 years. The account pays 3% interest compounded monthly. What is her balance after the 8 years?

• Alisha deposits $6000.00 into an account every year on her birthday for 17 years. The account pays 4% interest compounded yearly. What is her balance after the 17 years?

FV for Periodic Deposits – page 156

B = P((1+r/n) (nt) -1) divided by (r/n)

FV for Periodic Deposits– page 156 Others– page 159, #7,9