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# Genre Subversion

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## Petra Vlajic

on 2 April 2011

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#### Transcript of Genre Subversion

Interest Rates 101.. An interest rate is the cost of borrowing money. Your game plan is to earn as high on interest rate as you can when you save, and pay the lowest possible rate when you get a credit card, take an auto loan or a mortgage. Keep in mind!
Teach yourself how to spend money on important things for yourself,
not to spend money to impress others.
Have the courage to say “I cant affored this.”
When you manage your spending, you are not denying yourself. You are protecting
yourself! The higher the risk that the borrower will default (fail to repay the loan) is,
the higher the interest rate. Maintaining a good credit score will help lower the interest rates offered to you by lenders. Interest rates are expressed as an annual percentage of the total amount borrowed, also known as the principle. The lower the risk that the borrower will default (fail to repay the loan) is,
the lower the interest rate. To eliminate your debt quickly, pay off the most expensive loan first, than accelerate payments on the less expensive debt. The interest a lender receives is his compensation for taking a risk. With every loan, there's a risk that the borrower won't be able to pay it back. There are a number of different types of interest rates, and the rate depends on who is loaning the money and to whom. Simple interest is calculated on the original principal only. Calculate it ...
Simple Interest = p * i * n Compound interest is calculated each period on the original principal and all interest accumulated during past periods. Compound Interest=P*(1+r)^n Before you take out a bank loan, you need to know how your interest rate is calculated. Do you pay the effective interest rate? Or the stated interest rate? It could also help you with the credit related activity such as getting a student loan, car loans, renting an apartment, or buying a house. Find out which interest rate you are actually paying. What about simple interest? That's when you purchase a car. What about the compound interest? Compound interest is what makes credit cards and loans so difficult to pay off.
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