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Catégorie :Category: nCreator TI-Nspire
Auteur Author: tanmays1047
Type : Classeur 3.0.1
Page(s) : 1
Taille Size: 3.20 Ko KB
Mis en ligne Uploaded: 14/04/2025 - 20:11:09
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Visibilité Visibility: Archive publique
Shortlink : http://ti-pla.net/a4581599
Type : Classeur 3.0.1
Page(s) : 1
Taille Size: 3.20 Ko KB
Mis en ligne Uploaded: 14/04/2025 - 20:11:09
Uploadeur Uploader: tanmays1047 (Profil)
Téléchargements Downloads: 1
Visibilité Visibility: Archive publique
Shortlink : http://ti-pla.net/a4581599
Description
Fichier Nspire généré sur TI-Planet.org.
Compatible OS 3.0 et ultérieurs.
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SLIDE 12 FINANCIAL RATIOS, CREDIT Performance Ratios help evaluate how efficiently an individual or business is managing income, expenses, and savings. In the context of personal finance, one key performance ratio is the Saving Ratio (VR) The Saving Ratio measures the portion of disposable income that is saved after accounting for all expenses. It indicates how much an individual can save relative to their income Prepayment Penalties and the Rule of 78s Prepayment penalties can occur when borrowers pay off loans early. These penalties are more common in auto loans and short-term personal loans, but not typically found in mortgages or federal student loans. The Rule of 78s front-loads interest, meaning more interest is paid in the earlier months of a loan. This can make early payoff more expensive. Loan Prepayment Example Jim took out a $4,000 loan at 12% interest for two years. His monthly payment was $206.66. When he decided to pay off the loan early at the 19th month, he owed $1,412.80 due to the prepayment penalty. Without the penalty, the remaining amount wouldve been $1,240, meaning he paid around $172.80 more because of how the interest was structured. Understanding Credit When using credit, its important to: Know the time value of money Understand important dates like billing and due dates Be aware of grace periods that allow payment without interest Know how finance charges and other fees work Key Dates in Credit Billing date: when charges are calculated Due date: when payment is expected Transaction date: when a purchase or payment occurs Posting date: when it is officially recorded by the lender Grace Period A grace period is the time between the end of a billing cycle and the payment due date. If the full balance is paid by the due date, no interest is charged. If not, new purchases may lose their grace period. Insurance policies also offer grace periods to prevent lapses in coverage. Finance Charges Finance charges on credit cards include interest and other fees. Interest is typically calculated using the average daily balance (ADB), which considers how much is owed each day of the billing cycle. For example, if someones daily balances result in an ADB of $223.37 and the APR is 18%, the monthly interest charge would be $3.36. Made with nCreator - tiplanet.org
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Compatible OS 3.0 et ultérieurs.
<<
SLIDE 12 FINANCIAL RATIOS, CREDIT Performance Ratios help evaluate how efficiently an individual or business is managing income, expenses, and savings. In the context of personal finance, one key performance ratio is the Saving Ratio (VR) The Saving Ratio measures the portion of disposable income that is saved after accounting for all expenses. It indicates how much an individual can save relative to their income Prepayment Penalties and the Rule of 78s Prepayment penalties can occur when borrowers pay off loans early. These penalties are more common in auto loans and short-term personal loans, but not typically found in mortgages or federal student loans. The Rule of 78s front-loads interest, meaning more interest is paid in the earlier months of a loan. This can make early payoff more expensive. Loan Prepayment Example Jim took out a $4,000 loan at 12% interest for two years. His monthly payment was $206.66. When he decided to pay off the loan early at the 19th month, he owed $1,412.80 due to the prepayment penalty. Without the penalty, the remaining amount wouldve been $1,240, meaning he paid around $172.80 more because of how the interest was structured. Understanding Credit When using credit, its important to: Know the time value of money Understand important dates like billing and due dates Be aware of grace periods that allow payment without interest Know how finance charges and other fees work Key Dates in Credit Billing date: when charges are calculated Due date: when payment is expected Transaction date: when a purchase or payment occurs Posting date: when it is officially recorded by the lender Grace Period A grace period is the time between the end of a billing cycle and the payment due date. If the full balance is paid by the due date, no interest is charged. If not, new purchases may lose their grace period. Insurance policies also offer grace periods to prevent lapses in coverage. Finance Charges Finance charges on credit cards include interest and other fees. Interest is typically calculated using the average daily balance (ADB), which considers how much is owed each day of the billing cycle. For example, if someones daily balances result in an ADB of $223.37 and the APR is 18%, the monthly interest charge would be $3.36. Made with nCreator - tiplanet.org
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