Standard #: SS.4.FL.4.1


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Discuss that interest is the price the borrower pays for using someone else’s money.


Remarks


Explain the reason why, when a person borrows $100 to buy a new cell phone, he or she will have to pay back more than the $100 at a future date.

General Information

Subject Area: Social Studies
Grade: 4
Strand: Financial Literacy (Adopted in 2023)
Standard: Using Credit
Date Adopted or Revised: 06/14
Status: State Board Approved

Related Courses

Course Number1111 Course Title222
5021060: Social Studies Grade 4 (Specifically in versions: 2014 - 2015, 2015 - 2022, 2022 - 2023, 2023 and beyond (current))
7721015: Access Social Studies - Grade 4 (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2023, 2023 and beyond (current))


Related Access Points

Access Point Number Access Point Title
SS.4.FL.4.AP.1 Recognize that interest is added when you borrow money.


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