## Managing Credit Data Crunch

### MATH: The Cost of Minimum Payments

In this activity, students will be able to:

• Calculate the interest accrued when paying minimum payments.
• Explore how different monthly payment amounts will impact the total interest paid and balance remaining after 5 months on a \$5000 debt with 25% APR.
• Reflect on the additional interest costs associated with only paying the minimum payment on a credit card balance.

Source: NGPF

### DATA CRUNCH: How Much Debt Do Different Generations Have?

In this activity, students will be able to:

• Analyze a bar graph
• Compare the amount of debt held by different generations in consecutive years

Source:

### DATA CRUNCH: How “Credit Stressed” Are U.S. Consumers?

In this activity, students will be able to:

• Analyze a stacked bar graph comparing the credit stress across the US and within five specific states.
• Consider the causes and impacts of credit stress.

Source: Federal Reserve Bank of NY

### DATA CRUNCH: How Do Credit Utilization Rates Vary by Credit Score?

In this activity, students will be able to:

• Analyze a bar graph comparing the credit utilization within different credit score tiers.
• Make inferences about how credit use impacts credit scores.

Source: CFPB

### DATA CRUNCH: What Is The Most Common Credit Score By Age?

In this activity, students will be able to:

• Analyze a compound bar graph of common credit scores for different age groups to summarize the relationship between age and credit scores.
• Consider how scaling a graph can be used to better compare sets of data.
• Hypothesize how making credit scores accessible might impact consumers.

Source: Value Penguin

### DATA CRUNCH: Who Gets Denied Credit?

In this activity, students will be able to:

• Analyze a bar graph comparing the percentage of credit applicant who are denied, disaggregated by race and income.
• Make an inference about the impact of racial inequities in credit approval.

Source: The Federal Reserve