Title: Calculate payment schedules for a loan, using spreadsheets, calculators, and/or online tools.
Course: Economics and Personal Finance (19262-36) > Section: Demonstrating Knowledge of Credit and Loan Functions

Calculation should include

- using the simple interest formula (Interest = Principal x Rate x Time)
- computing compound interest and explaining the implications of compounding interest on unpaid balances
- explaining how the amount of the principal, the period of the loan, and the interest rate affect the amount of interest charged
- understanding the implications of online loan applications and sharing of personal information such as social security number and address.