SS.4.FL.4.1

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

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

This benchmark is part of these courses.

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

Alternate version of this benchmark for students with significant cognitive disabilities.

SS.4.FL.4.AP.1: Recognize that interest is added when you borrow money.

Vetted resources educators can use to teach the concepts and skills in this benchmark.

Vetted resources students can use to learn the concepts and skills in this benchmark.

Vetted resources caregivers can use to help students learn the concepts and skills in this benchmark.