This is a two-part/two-day lesson. Each lesson should take approximately 40-45 minutes. This lesson begins with students discussing the concept of loans, and then specifically of credit card loans and their functions for borrowers and lenders. Students compute the first year of making the minimum payment on a credit card balance of $1,000 and answer questions about the process. Finally, students discuss and reflect on credit card loans in general and other alternatives.
Computation, I. Mathematical Foundations
Computation, II. Number Relationships and Operations
Computation, III. Patterns, Functions, and Algebra