Holiday Madne$$ project

PART 1 is due on Wednesday. Parts 2 and 3 will be worked on in class. The entire project is due on Thursday! Please bring magazines, catalogs, and print advertisements on Wednesday.

December 1, 2008

HOLIDAY MADNE$$
Proportions, Percents and Credit Cards

The 3 Parts of this project will be due on Thursday, December 4, 2008.


PART 1: Credit Card
Create a credit card that is proportional to a real credit card. Measure the width and length of a card and apply a scale factor to figure out a new size. It should be carefully and colorfully designed.



PART 2: Making Purchases
Look through magazines, catalogues, and on-line shopping sits to find stuff you would like to have. “Spend” up to $10,000 on your new credit card.

To make a purchase, simply cut the item out and record the item and its price on the tally sheet on the back of your envelope. Put the item in the envelope.

Example:

Item Price Price + Tax (8%)

Diamond tiara $1,049.00 $1,132.92

Snickers Bar $0.65 $0.65

Williams Sonoma Toaster $42.00 $45.36




PART 3: The Bottom Line
Imagine that you have a $3,000 credit card bill and that you are charged 1.5% interest each month on the unpaid balance. Consider how your debt would change if you paid $50 each month.
Your debt:
Month 1 Month 1
Initial debt $3,000
1st payment - $50
$2,950

Month 2 Month 2
$2,950.00
+1.5% + $44.25
$2,994.25
2nd payment - $50.00
$2,944.25

Month 3 Month 3

+1.5%

3rd payment


Month 4 Month 4

+1.5%

4th payment