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Calculating the Impact of an Outstanding Balance and Interest Rates We are bombarded in the media with ads offering 0% interest or teaser rates of 2.9%. These ads are devised to entice us to sign up for these limited time offers that the companies tell us would be crazy to miss. The goal of these ads is to get us to use credit to buy on impulse. If we take the time to analyze the offer, we might realize that if it sounds too good to be true, then it probably is. In this lesson, students will work through a credit card scenario with a teaser rate, minimum payments, fees, and rate increases for being late.
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