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Grades 9-12
Car Loan Calculator
In this personal finance activity, students use a car loan calculator to compare interest rates.
Key Concepts: Interest
Objective
Students will be able to:
- Determine the total cost of a payday loan when given the amount financed, finance charge, and terms of the loan in weeks.
- Graph the relationship between the number of times a payday loan is renewed and the total cost of the loan.
- Rearrange the equation for the total cost of a payday loan to determine the finance charge.
Standards
In this personal finance lesson, students will learn how a payday loan works.
Resources
Procedure
Click NEARPOD VERSION: HOW EXPENSIVE ARE PAYDAY LOANS? to access an interactive version of the lesson powered by Nearpod: students interact and respond to questions on their device, and teachers will see their responses in real time!
Related Resources
Grades 9-12
Compounding Your Savings
In this personal finance activity, students will identify the purpose of compound interest and how it works to build savings.
Key Concepts: Interest, Saving
Grades 9-12
Integers and Net Worth
In this lesson students explore the concept of “net worth” and how it is calculated. They practice using integers while...
Key Concepts: Credit, Earned Income, Net Worth
Grades 9-12
Interest and Percent Growth
In this math lesson, students will examine and calculate interest on loans and investments.
Key Concepts: Credit, Interest, Saving
