PFEG - Cost of Credit

This task will help students appreciate the cost of credit and the implications of choosing to use credit.

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Prior knowledge

Calculating with percentages, using a spreadsheet to model simple financial contexts.

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Suggested approaches

The tasks are suitable for small group discussion and modelling using a spreadsheet. There is the opportunity for whole class debate around the costs of using credit cards and how to manage them.

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Resources/documentation

There are ‘volunteer’ notes, a PowerPoint and a worksheet suitable for group exploration.

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Relevant digital technologies

Students will need calculators and/or spreadsheets to calculate the cost of using credit.

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Possible extensions

Activity 15 includes a worksheet of more scenarios in which students can explore the cost of credit. Students could also investigate and compare credit cards from different providers. They could also compare saving with purchasing on credit.

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Acknowledgement

From Your Financial Future level 3: Unit 5: Activity 14, developed by Tower Hamlets Business Education Partnership, sponsored by Bank of America Merrill Lynch, available at https://thebp.org/your-financial-future-level-3/


  • Nitu Manan Sep 07, 2016

    Hi I'm due to teach this course this year to a group of y12's. Could you please tell me where I could access resources so have a look through. Thank you

  • Shaila Gosrani Sep 26, 2016

    Can't seem to find the resources!

  • B Carney Nov 16, 2016

    Not all the resources have been uploaded

  • Corinne Angier Mar 22, 2017

    If you follow the link in the acknowledgement section it takes you to the web page where all the resources are available.