Category Archives: Math

How Much Do Americans Pay In Interest On Their Debt?

This chart released quarterly by the Federal Reserve presents several learning opportunities:

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Lesson 1: Mortgage debt far exceeds all other consumer debts with a total of $8.12 trillion as of the end of Q2 2015. The next closest, student loan debt, stood at $1.19 trillion or almost 1/8 the amount of mortgage debt. Continue reading

One Person’s Misery Is Another Person’s…Math Problem

Hat tip to Rob Carrick of Globe and Mail for pointing out a CNN story titled “I’m 57 and owe $152,000 in student loans,” which he described as “student loan hell.”

I thought this story which traces the travails of a Rosemary Anderson would be a way to engage students both to the dangers of student loans but also how compound interest can work against you if you are a borrower not making payments on a loan.  It also will provide students the chance to hone their analytical skills (and wonder why some of these numbers don’t seem to add up!).

So, how might I think about structuring this activity? Continue reading