Percents and Credit Cards

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Summary

Let’s buy something expensive with a credit card and then make only the minumum payments!

  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](https://Byrdseed.TV/extras/creditcard), they'll determine how long it would take to pay off the debt using only minimum payments.

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