MA19.MM.6

Mathematics (2019) Grade(s): 09-12 - Mathematical Modeling

Students know:

Students are able to:

Calculate the growth of credit card debt or the reduction of credit card debt.
Recognize that payments or new purchases affect the balance on a credit card.
Recognize that annual fees and interest rates affect the balance on a credit card.
Recognize that making a minimum payment does not significantly reduce the balance on a credit card.
Use a spreadsheet to perform repetitive calculations.

Students understand that:

Credit card balances can grow due to high interest rates, finance charges, fees and new purchases.
Care should be taken to insure that credit card balances are monitored and controlled.