Credit Cards & the Minimum-Payment Trap: The Real Price
👀 Open the preview to see real pages from the student lab.
The lab
⭐ THE REAL PRICE — A REAL-WORLD MONEY LAB ⭐
What students do
- The $900 Statement — step into a real credit-card scenario with a clear “I can” target
- Decode Your Credit Card Statement — read an authentic statement with APR, balance, and minimum payment
- Build the Interest by Hand — convert APR to a monthly rate and compute interest, no calculator
- Your Credit Card Payoff Calculator — explore how balance, payment, and payoff time interact
- Two Payoff Plans, Make the Call — compare the minimum payment against a real monthly payment and justify the smarter plan
- Show What You Know — a scored mastery check on a fresh balance
- Reality Check — reflection + a real-world connection
Real math, done right
The percent/rate work (7.RP.A.3) is done BY the student — twice, by hand, and it's assessed. The APR-to-monthly-rate conversion and every interest figure are exact and verified to the cent; the minimum-payment payoff timeline is modeled with a real amortization engine, independently checked month by month.
Print or digital
Print-and-go, or assign the editable Word packet in Google Docs and the calculator in Google Sheets. No devices today? A Printed Calculator Readouts page lets a fully print-only class run the whole lab.
What is included
- 10-page student lab (PDF + editable Word)
- Self-calculating spreadsheet (Excel / Google Sheets)
- 2-page teacher guide with full answer key + 10-point rubric
- Printed Calculator Readouts (print fallback) + Terms of Use
More Money Labs
Standard codes refer to the Common Core State Standards for Mathematics. Math Class 678 is an independent publisher, not affiliated with, sponsored by, or endorsed by NGA Center or CCSSO. Every product is sold on Teachers Pay Teachers.