## Types of Credit Data Crunch

### MATH: Auto and Mortgage Monthly Payments

In this activity, students will be able to:

• Substitute values into complex formulas
• Calculate monthly payments based on loan amount, interest rate and number of payments

Source: NGPF

### MATH: Percent Change in US Household Debt

In this activity, students will be able to:

• Calculate percent change from points on a graph
• Analyze line graphs of household debts, number of car loans, and credit card debt

Source: NGPF

### MATH: Loan Repayments Using Simple Interest

In this activity, students will be able to:

• Calculate the cost of different loans using simple interest
• Consider how interest rate and length of time impact the cost of a loan
• Use the equation l=Prt

Source: NGPF

### MATH: Compound Interest Pitfalls

In this activity, students will be able to:

• Use the compound interest formula to evaluate the cost of unpaid debt over time
• Evaluate the exponential growth of debt from credit card loans and payday loans.

Source: NGPF

### DATA CRUNCH: How Long Do Alternative Loan Borrowers Carry Balances?

In this activity, students will be able to:

• Analyze a bar graph of payday loan statistics on percentage of borrowers with balances for different loan types and time periods

Source: CFPB

### DATA CRUNCH: How Easy Is It to Get a Loan?

In this activity, students will be able to:

• Analyze a bar graph of credit rejection rates for different types of credit, including auto loans, credit cards, credit increases, and mortgages.

Source: New York Fed Survey of Consumer Expectations

### DATA CRUNCH: What Are The Most Common Credit Card Fees?

In this activity, students will be able to:

• Analyze a bar graph of the frequency of different types of credit card fees.
• Compare the growth of different credit card fee types, including late fees, annual fees, and balance transfer fees, between 2015 and 2018.

Source: Bureau of Consumer Financial Protection

### DATA CRUNCH: What Interest Rate Do Consumers Pay On Their Credit Cards?

In this activity, students will be able to:

• Examine the trends in credit card interest rates over time.
• Analyze key features of a function in context, including maximum and minumum values and average rate of change.

Source: Federal Reserve Bank of St. Louis

### DATA CRUNCH: When Do College Students Use Credit Cards?

In this activity, students will be able to:

• Analyze a bar graph comparing what percentage of each student group uses credit cards for different types of purchases.
• Summarize information and make inferences about how college students use credit cards.

Source: Sallie Mae

### DATA CRUNCH: Who Has Consumer Debt (By Age Group)?

In this activity, students will be able to:

• Interpret data from a stacked bar graph compared debt types across different age groups.
• Make inferences about the prevalence of auto loans and students loans across age groups.

Source: NY Federal Reserve