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


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Identify the effects of not paying bills on time.

Clarifications:

Student identifies late fees or service cancellation when bills are not paid on time.

Number: MA.912.F.3.Su.c Category: Supported
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.
MA.912.F.3.4: Compare the advantages and disadvantages of deferred payments.
MA.912.F.3.6: Calculate total cost of purchasing consumer durables over time given different down payments, financing options, and fees.
MA.912.F.3.7: Calculate the following fees associated with a mortgage:
  • discount points 
  • origination fee 
  • maximum brokerage fee on a net or gross loan 
  • documentary stamps 
  • prorated expenses (interest, county and/or city property taxes, and mortgage on an assumed mortgage)



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