Research interest rates and credit lines for multipurpose credit cards. Find examples of at least four and compare their rates, repayment terms, and the application process for each card. Do the companies charge an annual fee? How much are penalties for being over a credit limit or making a late payment? Develop a spreadsheet with your findings. Highlight the cells that show your choice for the best credit card to use.

Write a paragraph either agreeing or disagreeing with the following statement: "Businesses that charge high interest rates should be banned from the marketplace."

Write an e-mail to your teacher discussing how you will start to develop your credit rating.

Research credit cards that offer rewards. Describe in writing the nature of the rewards you can get if you use them.

Write a short essay on whether you think it is fair or unfair for people to have to pay so much in interest on payday loans.

Your friend wants to buy a ring for $\$ 400$ using a credit card. He would pay $2 \%$ of the price each month, which would be $\$ 8$. He would have to make payments for $95$ months. Calculate the total cost of the purchase with interest. Write a letter to him about your opinion of the deal.

Write at least two paragraphs either for or against this statement: "People should be charged the same interest rate, regardless of their credit rating."

Suppose you would like to pay for a course to improve your job skills, a new computer, and a new TV. You do not have enough cash, so you consider taking out a loan to buy at least one of them. Which one would be the best use of credit? Which would be the least wise use of it?

Some people use a credit card and never pay any interest. How can that be?

Imagine that you have a good credit rating and you want to buy a new car. Which would be the best place to get a loan for it, a bank, a consumer finance company, or a pawn shop?

How do businesses use credit to help sell their products?

On a sheet of paper, use each of these key terms and academic vocabulary terms in a sentence.

$$\begin{array}{llll} \text { Key Terms } & & {\text { Academic Vocabulary }} \\ \text { credit } & \text { commercial credit } & \text { military } & \text { available } \\ \text { creditor } & \text { credit rating } & \text { contributes } & \text { annual } \\ \text { debtor } & \text { charge account } & \text { constantly } & \text { range } \\ \text { interest } & \text { installment loans } & \text { committed } & \text { options } \\ \text { consumer credit } & \text { collateral } & & \end{array}$$

$15 \frac{1}{2} \%$ of $[\quad]=\$ 403$

A $\space$ $\$ 6,246.5$

B $\space$ $\$ 60.45$

C $\space$ $\$ 26.00$

D $\space$ $\$ 2,600$

What is credit?