General Information
Number: MA.912.FL.3
Title: Describe the advantages and disadvantages of short-term and long-term purchases.
Type:
Standard
Subject: Mathematics (B.E.S.T.)
Grade: 912
Strand: Financial Literacy
Related Benchmarks
This cluster includes the following benchmarks.
Related Access Points
This cluster includes the following access points.
Access Points
MA.912.FL.3.AP.1
Compare simple and compound interest over time.
MA.912.FL.3.AP.2
Solve real-world problems involving simple and compound interest.
MA.912.FL.3.AP.4
Identify the relationship between simple interest and linear growth. Identify the relationship between compound interest and exponential growth.
MA.912.FL.3.AP.5
Select the advantages and disadvantages of using cash versus credit.
MA.912.FL.3.AP.6
Given a bill statement, identify the finance charge, interest rate and total amount due.
MA.912.FL.3.AP.7
Given two different student loan options, compare the advantages and disadvantages of each loan’s interest rate, monthly payment and total cost.
MA.912.FL.3.AP.8
Given the total cost of an item purchased using two different payment plans, calculate the total cost difference of the item between payment plans.
MA.912.FL.3.AP.9
Given two different mortgage loans, one 15-year and one 30-year, compare the advantages and disadvantages of each loan’s interest rate, monthly payment and total cost.
MA.912.FL.3.AP.10
Identify how short-term and long-term purchases, past payment history, and amount of debt may increase or decrease credit scores.
MA.912.FL.3.AP.11
Given several payment plans, with the monthly payment calculated, select the plan that will reduce the debt the quickest.
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