People who apply for loans are told what the interest rate on the loan will be. An interest rate is the price of using someone else's money expressed as an annual percentage of the loan principal.
Standard detail
1.
Benchmark
Depth 1Parent ID: BD0010AE2C194BBABEE75C646811EF7EStandard set: Grades 5, 6, 7, 8
Original statement
Quick facts
- Statement code
- 1.
- List ID
- 1.
- Standard ID
- 7B84B084B48A4A518D35F7F819ACD76D
- ASN identifier
- S2604574
- Subject
- Financial Literacy
- Grades
- 05, 06, 07, 08
- Ancestor IDs
- BD0010AE2C194BBABEE75C646811EF7E
- Source document
- National Standards for Financial Literacy (2013)
- License
- CC BY 3.0 US