In this chapter, simple interest is calculated for loans using exact and approximate time with exact and ordinary interest. Monthly payments for add-on loans are calculated, and the annual percentage rate (APR) is estimated by the constant-ratio formula. Discount loans are introduced and the proceeds calculated. Amortized loans are presented with amortization tables, and formulas are developed for finding the amount a person can borrow for a particular monthly payment and the payment required to borrow a specific amount. The workings of credit cards are explored. The process of bank underwriting is also explored with a look into the five areas that lenders review before issuing a loan.
After this chapter you should be able to
1. understand the terms of a promissory note or contract.
2. calculate simple interest and future value for promissory notes.
3. determine the monthly payments for add-on loans.
4. discount a loan.
5. find the payment required to borrow a particular amount of money.
6. find the amount that you can borrow for a given payment.
7. calculate the minimum payment, finance charge, and new balance for credit card accounts.
8. understand the five areas a lending institution will review prior to issuing a loan.
AfterSchoolHelp.com does not currently, knowingly collect information from children under the age of thirteen (13). We encourage parents and guardians to take an active role in their children's online activities and interests. Children can use AfterSchoolHelp.com and view content without being asked to provide any personal information.
We do not use or collect your precise geographic location.
We do not share personally identifiable information (such as name, address, email, or phone number) with other companies.
We do not allow advertising companies to collect data through our service for ad targeting.
If you have any questions or concerns about our privacy policies, please contact us at BJU Press.
By email: firstname.lastname@example.org
By mail: 1700 Wade Hampton Blvd., Greenville, SC 29614
By phone: 800.845.5731
Specifically regarding our mobile applications, we prohibit app users from entering any personally identifiable information.
To operate the service, we also may make anonymous information available to third parties in these limited circumstances: (1) when we believe in good faith it is required by law; (2) when we believe in good faith it is necessary to protect our rights or property; or (3) to any successor or purchaser in a merger, acquisition, liquidation, dissolution, or sale of assets. Your consent will not be required for disclosure in these cases. To the extent permitted by law, we will attempt to notify you in the event of a disclosure.
Welcome to AfterSchoolHelp.com. Please review these Terms of Service.
This Service and affiliate services are provided by BJU Press. You understand and agree to the following:
You understand and agree that BJU Press does not control, verify or endorse links, communities, forums, chats, events, or messages, unless explicitly stated. Any links that take users out of AfterSchoolHelp.com are not under the control of BJU Press, so BJU Press is not responsible for any of the content, functions, services, or links of third party sites.
BJU Press reserves the right to refuse the Service to any user.
You are fully responsible for your behavior on the BJU Press AfterSchoolHelp.com website, which includes the way that you utilize any aspect of the website service.
1. You are completely and solely responsible for the content you post on AfterSchoolHelp.com, which includes, but is not limited to, photos, messages, chat, community posts, events, audio and video clips. Unauthorized or illegal content includes, but is not limited to:
(a) the display of sexually explicit material;
(b) the display of abusive, harmful, racially or religiously offensive or bigoted, obscene, or libelous material;
(c) the use of flaming or trolling;
(d) the display of material that encourages criminal behavior that violates any local, state, national, or international law or regulation;
(e) the use of the Service for unauthorized advertising, which includes MLM/pyramid schemes, spam, chain letters, sweepstakes or contests;
(f) the transmission of viruses, worms, or Trojan horses to destroy or limit any functionality of the software or hardware of AfterSchoolHelp.com and its users;
(g) the display of information about another person without their express consent or the posting of any copyrighted material that you do not have legal authorization to use.
BJU Press has the right, in its sole discretion, to determine whether content is unauthorized, offensive, harmful, illegal, or in violation of the rights of others.
2. You agree and understand that BJU Press can delete any content that is offensive, illegal, harmful, or in violation of the rights of other.
3. You understand and agree that you can only use AfterSchoolHelp.com for academic use. You cannot use AfterSchoolHelp.com for any commercial or business purposes.
4. Any member who demonstrably harasses or abuses another member will be removed from AfterSchoolHelp.com.
5. Other unauthorized or illegal behaviors include, but are not limited to:
(a) the display of false information about yourself or anyone else;
(b) changing, in any manner at all, or reverse engineering any aspect of AfterSchoolHelp.com (you may not attempt to derive source code from the AfterSchoolHelp.com service);
(c) the use of any search/retrieval application (e.g., robot, spider) to index any aspect of AfterSchoolHelp.com;
(d) the posting of information that implicitly or explicitly implies that it is endorsed by AfterSchoolHelp.com
BJU Press respects copyright and other laws. BJU Press requires all users to comply with copyright and other laws.
BJU Press does not provide you with file-sharing ability so that you can violate the copyright of third parties.
As a user of the After School Help website, you agree that you must not use the AfterSchoolHelp.com website to infringe the intellectual property of others in any way. The unauthorized reproduction, distribution, modification, or posting of copyrighted work is a violation of copyright law.
You are responsible for your behavior on the AfterSchoolHelp.com website and for making sure that it does not violate any copyright laws. If you violate copyright laws, you may be exposed to civil and criminal liability, including possible fines and jail time.
BJU Press and its affiliates, partners, and consultants disclaim any and all responsibility or liability for the content, completeness, accuracy, legality, reliability, or availability of information or materials displayed on the AfterSchoolHelp.com website. You agree that the use of the Service and anything you download from the BJU Press AfterSchoolHelp.com website is at your sole risk, discretion, and responsibility. You will be wholly responsible for any damage to your computer system that results from your use of the Service or the downloading of information. BJU Press disclaims any and all responsibility and liability for the conduct of any member. BJU Press will not be held liable for any interactions you have with other individuals or organizations through the website. You agree that BJU Press is not responsible for any damage or loss that occurs as a result of such interactions and that BJU Press has no obligation to become involved in any such disputes; further, you release BJU Press from damages of any kind that arise from such disputes. BJU PRESS OFFERS ALL OF ITS SERVICE ON AN "AS IS" BASIS, WITH NO WARRANTIES WHATSOEVER. BJU PRESS EXPRESSLY DISCLAIMS TO THE FULLEST EXTENT PERMITTED BY LAW ALL EXPRESS, IMPLIED, AND STATUTORY WARRANTIES, INCLUDING, WITHOUT LIMITATION, THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT OF PROPRIETARY RIGHTS.
You agree, at your expense, to indemnify, defend and hold BJU Press harmless from and against any loss, cost, damages, liability and/or expense arising out of or relating to (a) third party claims, actions or allegations of infringement based on information, data or content you submitted in connection with the service; (b) any fraud or manipulation, or other breach of this agreement by you; or (c) third party claims, actions or allegations brought against BJU Press arising out of your use of the service or software.
In no event, situation, or circumstance will BJU Press be liable to you or any third party for any indirect, incidental, special or exemplary, or consequential damages arising or resulting from your use of AfterSchoolHelp.com, whether or not BJU Press has been advised of the possibility of such damages. This includes, but is not limited to damages from uploaded or downloaded third party content, and damages from the interruption or termination of BJU Press services. Some jurisdictions do not allow the limitation of exclusion of limitation of incidental or consequential damages, so the above limitations and exclusions may not apply to you. In no event, situation, or circumstance will BJU Press be liable to you for an amount exceeding five hundred dollars ($500.00).
BJU Press can refuse membership to anyone at its sole discretion. In addition, BJU Press can terminate the membership and delete any related information of any member at any time for any reason. If BJU Press terminates your membership, then you can no longer use the AfterSchoolHelp.com service or the services of any of its affiliates.
This Terms of Service Agreement is governed in all respects by the laws of the State of South Carolina, USA. In the event of any dispute related to this Agreement, the parties will attempt resolution pursuant to biblical principles utilizing negotiation and mediation. If this is unsuccessful for any reason, disputes arising hereunder shall be submitted to state or federal courts in Greenville, South Carolina, and you agree to and consent to the exclusive jurisdiction of such courts.
If any aspect of this agreement is deemed invalid, then the remaining provisions shall still be enforced.
You may not assign or transfer this Agreement or any of your rights or obligations hereunder, and any attempt to the contrary is void.
BJU Press is not responsible for any delay or failure in performance resulting directly or indirectly from causes beyond BJU Press's reasonable control.
Any correspondence about this Agreement will be sent to you via the email address you provided during registration.
If you are not a resident of the United States of America, then you agree to follow all applicable laws and local rules regarding the transmission of data from the United States or the country in which you live.
We hope that you enjoy your use of AfterSchoolHelp.com. These Terms of Service are necessary and allow us to offer this Service to you – our valued user. Official correspondence must be sent through postal mail to:
BJU Press Customer Service
1700 Wade Hampton, Blvd.
Greenville, SC 29614
This Terms of Service represents the complete, entire, and exclusive understanding and agreement between you and AfterSchoolHelp.com. It supersedes all prior, written or oral, understandings or agreements. You understand and agree that you have read these Terms of Service and that amendments can be posted to this Terms of Service. You agree and understand that your continued use of the Service represents your consent to such amended terms.