Work with a partner. Use the following information to write a report about
credit cards. In the report, describe how a credit card works. Include
examples that show the amount of interest paid each month on a credit card.
U.S. Credit Card Data
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A typical household with credit card debt in the United States owes about
$16,000 to credit card companies.
A typical credit card interest rate is 14% to 16% per year. This is called
the annual percentage rate.