Managing credit card payments
Students use a simple formula to calculate the true cost of items bought with a credit card.
When you don’t pay off the full amount that you owe on a credit card, you’ll have to pay interest on the money you still owe.
- How do interest rates affect credit card payments?
- How do you calculate the price of a purchase including interest?
- Learn about making informed choices about credit offers
- Calculate payments for credit card purchases based on the principal and interest rate
What students will do
- Calculate and analyze how monthly payments on a credit card change based on the principal and interest rate.
- Reflect on ways to reduce the amount owed on a credit card.