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What Credit Card Interest Costs is a free printable Grade 3 to Grade 5 social studies worksheet on what interest costs on a credit card balance, aligned to C3 Framework indicator D2.Eco.10.3-5. It prints 8 questions with an answer key on its own sheet of paper, in 25 versions that each ask different questions, so no two students in the class work from the same page. Print it from the browser or download it as a PDF — no account, no email.

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Set 1 has all 25 in a single PDF. All 25 sets ask different questions.

What Credit Card Interest Costs

D2.Eco.10.3-5

NameDate

Circle the answer that shows the right work.

1.Jay owes $100 on a credit card. He is charged $2 interest each month he leaves it unpaid. How much interest does he pay in 3 months?
  • A.$2
  • B.3 × $2 = $6
  • C.$103
2.Does a debit card purchase charge interest?
  • A.Yes, but only on weekends
  • B.No, because you are spending your own money, not borrowing
  • C.Yes, always more than a credit card
3.What is interest on a credit card?
  • A.Money the store pays you
  • B.A fee for borrowing, charged on the amount you still owe
  • C.A gift from the bank
4.A card charges $3 interest every month for 12 months. How much interest is that in all?
  • A.$9
  • B.12 × $3 = $36
  • C.$15
5.Why does paying only the minimum each month cost more in the end?
  • A.The minimum payment is free
  • B.The rest of the balance keeps being charged interest
  • C.The bank lowers the balance for you
6.Jay owes $100 and is charged $2 interest each month. How much does he owe after 3 months with no payments?
  • A.$102
  • B.3 × $2 = $6; $100 + $6 = $106
  • C.$300
7.How can you avoid paying any credit card interest?
  • A.Never open the bill
  • B.Pay the whole balance by the due date each month
  • C.Pay only the smallest amount allowed
8.A card charges $20 of interest a year for every $100 owed. How much interest is charged in a year on a $500 balance?
  • A.$500 ÷ $100 = 5; 5 × $20 = $100
  • B.$20
  • C.$520

LessonPrint · D2.Eco.10.3-5 · Set 25 · free to copy for classroom use

Answer key — What Credit Card Interest Costs

Set 25. Prints on its own sheet.

  1. 1.3 × $2 = $6
  2. 2.No, because you are spending your own money, not borrowing
  3. 3.A fee for borrowing, charged on the amount you still owe
  4. 4.12 × $3 = $36
  5. 5.The rest of the balance keeps being charged interest
  6. 6.3 × $2 = $6; $100 + $6 = $106
  7. 7.Pay the whole balance by the due date each month
  8. 8.$500 ÷ $100 = 5; 5 × $20 = $100

Last reviewed 2026-09-05. Aligned to D2.Eco.10.3-5 of the C3 Framework for Social Studies State Standards.