Conclusion

So what do you think? If you were your parents, would you approve your room redo? Were you surprised by the amount of money that it took? Were you expecting it to be more or less money?

A project like this might really come up in your life. People always want to improve their houses and make them look nicer. If this situation really did happen, you wouldn't have been constricted to the Web sites that I gave you, which was mostly from Lowes. Also, there are tons of ways to improve a room without ripping out everything and starting over.

Another thing that would be different is that for a loan like this, the bank would use something called compound interest.  Compound interest is basically finding the interest more then once over the time period.  Usually banks compound the interest quarterly, which is 4 times throughout a period of 1 year. 

To find out more about compound interest, go here. http://www.teacherschoice.com.au/Maths_Library/Money/compound_interest.htm

*Extra Credit* 

Find the compound interest on your loan if it is compounded quarterly over 2 years.