They make money by charging interest on loans. Research interest rates on loans. What is the typical interest paid on a retail card account (Best Buy, Kohls, Sears, Target, Macy’s)? What is the interest paid on a car loan, student loan, and mortgage? Using the Internet research for a loan payment calculator. Enter the prices of the items from your list into the loan payment calculator. Enter a term (6 years to 30 years), and interest rate (4% to 30%). What is the monthly payment and log your results. Multiply the monthly payment by the term to understand the total cost of the purchase. For example if you buy a $1000 T.V. and pay 21% interest over six years, how much will the T.V. cost after six years. Is the T.V. worth that much after six years? Create a public service announcement informing people about credit. Read a credit card contract agreement from start to finish and create a presentation highlighting some of the facts you discover. Create a timeline of your progress through this problem.