Credit Card Simulation

Included in this product you will find a credit card simulation activity that requires students to choose between three different furniture store credit cards (all with different interest rates and special deals). After they choose a credit card and fill out an application, they will practice calculating monthly interest, minimum payments, and remaining balance on a well organized chart that is provided for them. Next, they will use an Excel Spreadsheet (included) to do those same calculations and determine when their chosen credit card will be paid off. They will have the opportunity to use the spreadsheet to compare all three credit cards and see how much in interest and minimum payments they will end up paying over a course of time. There is space included in the packet for students to analyze their findings. Finally, they will complete a monthly statement using their information and write out a check to make their first monthly payment.

This purchase includes:
*A student packet with detailed, step by step directions for all components, including how to format and use the spreadsheet.
*A teacher packet with answer keys for all applicable student pages.
*A student Excel Spreadsheet that is already formatted with formulas for each credit card.
*A teacher Excel Spreadsheet that has all answers filled in.

This activity is perfect for a consumer math class or financial literacy class.

Please download the Preview file for more information.

Looking for similar products???
Check out this Credit Score INB Activity or this Buying and Leasing a Car Simulation!
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