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Analyze the costs and benefits associated with credit cards.
Standard #: SS.912.FL.5.8
Standard Information
Standard Clarifications

Clarification 1: Instruction includes understanding that while credit cards are useful for making purchases, interest rates on credit card loans are generally higher than other types of loans and may also have additional fees.

Clarification 2: Instruction includes understanding that credit card interest rates are higher for people considered to have a higher risk of nonpayment as determined by their credit scores.

General Information
Subject Area: Social Studies
Grade: 912
Strand: Financial Literacy
Standard: Identify and analyze the benefits, risks, associated fees, and laws that consumers should consider when choosing to buy on credit.
Date Adopted or Revised: 05/24
Status: State Board Approved
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Lesson Plans
  • My first credit card! In this Model Eliciting Activity, MEA, students use compare and analyze various features of credit cards to choose the best one for a college student. As part of their analysis, students will create step functions to model the interest charged and visually compare interest costs associated with each credit card. Model Eliciting Activities, MEAs, are open-ended, interdisciplinary problem-solving activities that are meant to reveal students’ thinking about the concepts embedded in realistic situations. MEAs resemble engineering problems and encourage students to create solutions in the form of mathematical and scientific models. Students work in teams to apply their knowledge of science and mathematics to solve an open-ended problem while considering constraints and tradeoffs. Students integrate their ELA skills into MEAs as they are asked to clearly document their thought processes. MEAs follow a problem-based, student-centered approach to learning, where students are encouraged to grapple with the problem while the teacher acts as a facilitator. To learn more about MEAs visit: https://www.cpalms.org/cpalms/mea.aspx
  • Credit Fees Students will evaluate advantages and disadvantages of using a credit card for purchases by exploring various debt payment plans and considering the cost of credit.
STEM Lessons - Model Eliciting Activity
  • My first credit card! In this Model Eliciting Activity, MEA, students use compare and analyze various features of credit cards to choose the best one for a college student. As part of their analysis, students will create step functions to model the interest charged and visually compare interest costs associated with each credit card. Model Eliciting Activities, MEAs, are open-ended, interdisciplinary problem-solving activities that are meant to reveal students’ thinking about the concepts embedded in realistic situations. MEAs resemble engineering problems and encourage students to create solutions in the form of mathematical and scientific models. Students work in teams to apply their knowledge of science and mathematics to solve an open-ended problem while considering constraints and tradeoffs. Students integrate their ELA skills into MEAs as they are asked to clearly document their thought processes. MEAs follow a problem-based, student-centered approach to learning, where students are encouraged to grapple with the problem while the teacher acts as a facilitator. To learn more about MEAs visit: https://www.cpalms.org/cpalms/mea.aspx
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