Payday loans – What are they?

When you need a loan, and you're desperate for help, is a Payday loan a good idea?  What is a PayDay loan?  How is it different from a bank loan or a credit card loan?

Students learn about this kind of loan and examine how it compares with personal loans and debt on your credit card.  They analyze final payments and what the actual annual interest rate (APR) is.

The activity: PaydayLoans.pdf

CCSS: 6.RP, 7.RP, MP1, MP2, MP4

For members we have an editable Word docx, our Excel computations, and solutions.

PaydayLoans.docx    PaydayLoan.xlsx    PaydayLoans-solution.pdf


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