| A | B | C | D | E | F | G | H | I | J | K | |
|---|---|---|---|---|---|---|---|---|---|---|---|
1 | HTMCV Stewarsdhip Project - Credit Card Spreadsheet | ||||||||||
2 | The purpose of this form is to display a student's credit card activity. | ||||||||||
3 | |||||||||||
4 | Students may borrow money with a credit card for: | rent, taxes, life cycle | |||||||||
5 | NOTES: | Interest is compounded weekly to simulate the effects of compound interest. | luxury chair or other government items | ||||||||
6 | Students who want to borrow for Koteach University or a mortgage, will not be able to use a credit card. | buying something from a business | |||||||||
7 | The intereset rate will be 16.1% (The national rate as of August 2016, according to Bankrate.com) and will stay constant throughout the year. | ||||||||||
8 | |||||||||||
9 | Date | Week | Last week's balance | + | Any new debt | - | Any payments | x | 1 + interest rate | = | Balance |
10 | Example | A | $0.00 | + | $800.00 | - | 0.00 | x | 1.161 | = | $928.80 |
11 | Example | B | $928.80 | + | $0.00 | - | 350.00 | x | 1.161 | = | $671.99 |
12 | Example | C | $671.99 | + | $0.00 | - | 0.00 | x | 1.161 | = | $780.18 |
13 | Example | D | $780.18 | + | $0.00 | - | 75.00 | x | 1.161 | = | $818.71 |
14 | Date | Week | Last week's balance | + | Any new debt | - | Any payments | x | 1 + interest rate | = | Balance |
15 | OCT. 21st | 1 | + | - | x | 1.161 | = | $0.00 | |||
16 | OCT. 28th | 2 | + | - | x | 1.161 | = | $0.00 | |||
17 | NOV. 4th | 3 | + | - | x | 1.161 | = | $0.00 | |||
18 | NOV. 11th* | 4 | + | - | x | 1.161 | = | $0.00 | |||
19 | NOV. 18th | 5 | + | - | x | 1.161 | = | $0.00 | |||
20 | NOV. 25th* | 6 | + | - | x | 1.161 | = | $0.00 | |||
21 | DEC. 2nd | 7 | + | - | x | 1.161 | = | $0.00 | |||
22 | DEC. 9th | 8 | + | - | x | 1.161 | = | $0.00 | |||
23 | DEC. 16th | 9 | + | - | x | 1.161 | = | $0.00 | |||
24 | DEC. 23rd* | 10 | + | - | x | 1.161 | = | $0.00 | |||
25 | DEC. 30th* | 11 | + | - | x | 1.161 | = | $0.00 | |||
26 | JAN. 6th | 12 | + | - | x | 1.161 | = | $0.00 | |||
27 | JAN. 13th | 13 | + | - | x | 1.161 | = | $0.00 | |||
28 | JAN. 20th | 14 | + | - | x | 1.161 | = | $0.00 | |||
29 | JAN. 27th | 15 | + | - | x | 1.161 | = | $0.00 | |||
30 | FEB. 3rd | 16 | + | - | x | 1.161 | = | $0.00 | |||
31 | FEB. 10th | 17 | + | - | x | 1.161 | = | $0.00 | |||
32 | FEB. 17th* | 18 | + | - | x | 1.161 | = | $0.00 | |||
33 | FEB. 24th | 19 | + | - | x | 1.161 | = | $0.00 | |||
34 | MAR. 3rd | 20 | + | - | x | 1.161 | = | $0.00 | |||
35 | MAR. 10th | 21 | + | - | x | 1.161 | = | $0.00 | |||
36 | MAR. 17th | 22 | + | - | x | 1.161 | = | $0.00 | |||
37 | MAR. 24th | 23 | + | - | x | 1.161 | = | $0.00 | |||
38 | MAR. 31st* | 24 | + | - | x | 1.161 | = | $0.00 | |||
39 | APR. 7th* | 25 | + | - | x | 1.161 | = | $0.00 | |||
40 | APR. 14th | 26 | + | - | x | 1.161 | = | $0.00 | |||
41 | APR. 21st | 27 | + | - | x | 1.161 | = | $0.00 | |||
42 | APR. 28th | 28 | + | - | x | 1.161 | = | $0.00 | |||
43 | MAY 5th* | 29 | + | - | x | 1.161 | = | $0.00 | |||
44 | MAY 12th | 30 | + | - | x | 1.161 | = | $0.00 | |||
45 | MAY 19th | 31 | + | - | x | 1.161 | = | $0.00 | |||
46 | MAY 26th | 32 | + | - | x | 1.161 | = | $0.00 | |||
47 | JUN. 2nd | 33 | + | - | x | 1.161 | = | $0.00 | |||
48 | JUN. 9th | 34 | + | - | x | 1.161 | = | $0.00 | |||
49 | JUN. 16th | 35 | + | - | x | 1.161 | = | $0.00 | |||
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