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Car Loan - Effect of Loan Duration

(*)(*)(*)(*)( ) ( 3.9, 261 students)
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  • Price per ClassroomFREE
  • Grade Levels 7, 8, 9, 10
  • Topics Car Loan, Home Loan, Credits
  • Duration 15 Minutes
  • Auto Scored? Yes
  • Teacher Evaluation Needed? No

Activity Description

This activity will empower students to understand how the length of a loan can affect their financial obligations and overall borrowing costs.

During this exercise, students will engage with a loan duration slider. They will use this slider to adjust the length of a loan and, in turn, observe how this adjustment impacts two critical financial aspects: Monthly Payments and Total Interest to be paid.




Learning Objective

Develop a clear understanding of how the duration of a loan affects both monthly payments and the total interest to be paid.

Teacher Tips

Included with the activity, you can view the tips to clarify student's doubts or to evaluate answers (for a teacher scored worksheet).
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  • Price per ClassroomFREE
  • Grade Levels 7, 8, 9, 10
  • Topics Car Loan, Home Loan, Credits
  • Duration 15 Minutes
  • Auto Scored? Yes
  • Teacher Evaluation Needed? No

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