| aidemia--modules-discussion_request | Give a list of questions for discussing during a class |
| Which subject | Mathematics |
| What age group | Doesn't matter |
| What topic | Credit cards |
| Quantity | 3 |
| Hints to each question | |
| Any other preferences |
How do credit card companies calculate interest on outstanding balances?
Discuss and break down the formula for calculating monthly interest charges on credit card balances. What is the significance of the Annual Percentage Rate (APR), and how does it affect the overall cost of borrowing?
What is the impact of making only the minimum payment on a credit card balance?
Explore the mathematical implications of paying just the minimum payment, including how long it would take to pay off a debt and the total interest paid over time. Can you create a scenario with specific numbers to illustrate this?
How can you effectively compare different credit card offers mathematically?
Discuss the factors that should be considered when comparing credit cards, such as APR, fees, and rewards. How can you create a formula or a decision matrix to evaluate which credit card offer is most beneficial for a consumer?