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Example 2 Credit Card Debt Chapter 2.1 It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest.

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Presentation on theme: "Example 2 Credit Card Debt Chapter 2.1 It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest."— Presentation transcript:

1 example 2 Credit Card Debt Chapter 2.1 It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America)  2009 PBLPathways

2 It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America)

3  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

4  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

5  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

6  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

7  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

8  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

9  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

10  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

11  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars

12  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars An interest rate of about 10% on a credit card debt of $10,000 over 3 years will result in interest of $

13  2009 PBLPathways It is hard for some people to pay off credit card debts in a reasonable period of time because of high interest rates. The interest paid on a $10,000 debt over 3 years is approximated by when the interest rate is x%. What is the interest rate if the interest is $ ? (Source: Consumer Federation of America) interest rate in percent amount of interest in dollars An interest rate of about 10% on a credit card debt of $10,000 over 3 years will result in interest of $


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