Description

Eye-opening, easy prep activity will guide students in discovering how long it takes to pay off an item on a credit card or loan while only making the minimum payment.

Students will select a big-ticket item to ‘purchase’ on a store credit card.
They’ll research the credit card terms, including the current interest rate. This information will be used, along with the provided instructions, to create a Google spreadsheet that will find how long it will take to pay off the item and how much extra interest will be paid.

All instructions for the activity, including instructions for setting up the spreadsheet, are included. The answer key is not included because solutions rely heavily on the cost of the item students select and current interest rates.

My students are always shocked by the amount of time and interest owed when paying the minimum payment!

**Students will need devices with internet access and Google Accounts with access to Google Sheets to complete this activity.**