Students learn about sources of credit and calculating interest rates.
Teaching Objectives:
- Identify potential sources of credit.
- Compare credit sources.
- Evaluate credit practices.
- Calculate credit costs.
- Demonstrate the ability to make good credit choices.
Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money.
Suggested Grade Level
6th – 12th Grade
Lesson Excerpt:
If you can think of something to buy, you can find a lender to provide the money! But, not all lenders are the same. With so many different types of lenders, borrowers have a lot of options. Finding the best lender can be challenging, and it can make a big difference in the total amount you pay for your purchase. Poor credit choices are very costly and can continue causing problems for many years.
