Percents and Credit Cards

Objective

Students will use their understanding of percents to make calculations about credit card purchases.

Steps

1. Students will find a credit card and note the APR.

2. Next, they'll "purchase" an expensive item and calculate the cost of interest after one year.

3. Then, students will calculate the cost of interest after minimum payments for the first three months.

4. Finally, using this interest calculator, they'll determine how long it would take to pay off the debt using only minimum payments.

Resources

• Worksheet (PDF)
• Worksheet (Google Slides)