Sources of Credit: It Is In Your Interest?

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.



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