Extra Credit: It's No Fairy Tale
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- Extra Credit: It's No Fairy Tale
- Reserve Bank
- St. Louis
In this lesson, students read a story that illustrates some of the trends and concerns discussed in "Extra Credit: The Rise of Short-term Liabilities." The facts of the story are then analyzed to identify the debt trap and to generate solutions to the problem. Using an online calculator, students calculate the amount of time it takes to pay off a credit card based on the monthly payment amount.
|credit, short-term credit, interest|