Title

3 - Visualizing Wealth and Personal Finance

Authors

Alex SaltzmanFollow

Files

Description

Part 3 of the Data Visualization Lab's workshop on Wealth and Personal Finance (credit cards)

Publication Date

Spring 2020

City

New Orleans, LA

Comments

=== Self-quiz (Answers in attached file) ===

3-credit card quiz

1) Why is it a problematic strategy to make only minimum payments each month?

1. Balance and therefore interest can accumulate quickly
2. The bank will call you up if you only make a minimum payment
3. It’s immoral to buy things you don’t pay for

2) When Joe has about $13,000 of credit card debt at 22.9% interest, how long will it take him to repay while paying an extra $200 each month?

1. A couple of years
2. 13,000/200 = 65 months
3. Many years (10+)
4. Literally forever

3) How long will it take Joe to pay off his $13,000 when repaying an extra $500 each month

1. Forever
2. Many years
3. Less than 1 year

Recommended Citation

Saltzman, Alex, "3 - Visualizing Wealth and Personal Finance" (2020). Data Visualization Lab Videos. 9.
https://digitalcommons.xula.edu/data_instruct/9