People often make a cash payment to the seller of a good—called a down payment—in order to reduce the amount they need to borrow. Lenders may consider loans made with a down payment to have less risk because the down payment gives the borrower some equity or ownership right away. As a result, these loans may carry a lower interest rate.
Standard detail
4.
Benchmark
Depth 1Parent ID: 28CE83FF06994F9CAB9BEC1FBAC6C82BStandard set: Grades 9, 10, 11, 12
Original statement
Quick facts
- Statement code
- 4.
- List ID
- 4.
- Standard ID
- F81F9FBC0A7D40DDB3526DB99079E0C0
- ASN identifier
- S2604585
- Subject
- Financial Literacy
- Grades
- 09, 10, 11, 12
- Ancestor IDs
- 28CE83FF06994F9CAB9BEC1FBAC6C82B
- Source document
- National Standards for Financial Literacy (2013)
- License
- CC BY 3.0 US