CreativeMathLessons

The scenario on this chart is as follows: "MasterCard sent you a fabulous new credit card offer in the mail. It is a special card for teens with really low minimum monthly payment percent of 4%. In exchange for the low minimum monthly payment percent, MasterCard raised your APR to 18%. You decide to use this credit card instead of the Visa in Scenario #1. Fill out the chart and determine the amount of money you spent and your remaining balance. " The chart is a great way for students to di

This chart covers the following scenario: "Capital One offers a special credit card for teens. It has a spending limit of $100 per month and a very low monthly payment of 2%. The APR for this card is also pretty low at 7%. You talk to your parents and they agree that it sounds safe so they cosign the card with you. You now have your own credit card to use for monthly purchases and do not have to constantly ask your parents for money. You will owe your parents the remaining balance at the end

This Excel file is set up to show students how quickly debt can add up if they only pay the minimum balance on a credit card. The spreadsheet is already formatted to do the calculations for you! All you have to change is your initial credit card balance and change the APR and minimum payment balance to fit different scenarios. This is a quick way to show your students the "big picture" when it comes to credit card debt. It is also a nice way to introduce students to applications of percents

It is intended that this page be used along with my Credit Card Debt Excel Calculator as well as my printable Credit Card scenarios. This sheet covers all of the basic terms associated with having a credit card and asks students some basic introductory questions about their knowledge of credit cards.

This is a basic study guide that would be good for an introductory lesson on percents and proportions.