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Q T Pi Fashions - Learning About Credit Card Use
Source: Council for Economic Education (EconEdLink) | Type: Lesson
Credit cards are convenient, user friendly, and at times dangerous. In this lesson students learn the joys and dangers of using credit as they help Credit, the main character in this activity, solve her credit problems.
- Consumer Economics
- Decision Making
- Interest Rate
- Money Management
- Economics 1: Scarcity
- Economics 2: Marginal Cost/Benefit
- Economics 4: Role of Incentives
- Economics 8: Role of Price in Market System
The lesson itself was great! It helped my students learn the real cost of using credit, but some of the numbers are incorrect. I used the lesson, but made my own worksheet.
Thank you for a well-thought out lesson. I will use it for a money management class designed for 7th and 8th graders.
Good lesson! I found it to be challenging and very informative for my students.
This looks really cool.
Excellent lesson! I even used it for myself.
It happens that I have a lot of free time, which I devote to my hobbies. I could be reading clauses or looking through photos for hours, but now I spend all my time on your site!
This looks awesome! I am going to try to tailor it to a 1-3
The lesson is great!
I am not sure if it's me or if some of the numbers are off. In the Q T Pi Fashions lesson in June on the first table you have to figure out her payment because she has to pay 10% of her Balance and it is over her normal $100 payment. Looking at the answer key it looks like your 10% ($1108.95 x 10% = $110.90 not $110.93) is off by .03 and it is making the final answer of $998.02 for July off.
Also, question #5, the very first payment looks like you have it as $110.16, which needed to be calculated again because it is over her $100 payment but 10% of $1015.98 is $101.60. So, if the first number is off that throws the entire questions off. If I am wrong about this please let me know if not could we possibly fix it?
EconEdLink: We have fixed the numbers on both the student and teacher version. Thanks