Percents and Credit Cards
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Objective
Students will use their understanding of percents to make calculations about credit card purchases.
Steps
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Students will find a credit card and note the APR.
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Next, they'll "purchase" an expensive item and calculate the cost of interest after one year.
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Then, students will calculate the cost of interest after minimum payments for the first three months.
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Finally, using this interest calculator, they'll determine how long it would take to pay off the debt using only minimum payments.
Resources
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