Access Point #: MA.912.F.3.In.c (Archived Access Point)


This document was generated on CPALMS - www.cpalms.org



Identify finance charges as extra amounts added to cost of items that are not paid for on time.

Clarifications:

Student identifies the charges added to a bill for an unpaid balance on a credit card account.

Number: MA.912.F.3.In.c Category: Independent
Date Adopted or Revised: 09/07 Standard: Loans and Financing : Become familiar with and describe the advantages and disadvantages of short-term purchases, long-term purchases, and mortgages.

Related Benchmarks

Name Description
MA.912.F.3.3: Calculate the finance charges and total amount due on a credit card bill.
Clarifications:
Example: Calculate the finance charge each month and the total amount paid for 5 months if you charged $500 on your credit card but you can only afford to pay $100 each month. Your credit card has a monthly periodic finance rate of .688% and an annual finance rate of 8.9%.



Related Courses

Name Description
1207310: Liberal Arts Mathematics
1205370: Consumer Mathematics
1205540: Business Mathematics
1200500: Advanced Algebra with Financial Applications
2102310: Economics
2102320: Economics Honors
2102335: Economics with Financial Literacy
2102345: Economics with Financial Literacy Honors
7912105: Fundamental Consumer Mathematics
7921042: Fundamental Economics with Financial Literacy
7921022: Access Economics with Financial Literacy