Standard #: SS.8.FL.3.1


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Explain that banks and other financial institutions loan funds received from depositors to borrowers and that part of the interest received from these loans is used to pay interest to depositors for the use of their money.


Remarks


Draw and label a diagram showing the role that financial institutions play in channeling funds from savers to borrowers. Conduct research into the interest rate paid on savings and charged for loans by financial institutions in their community and create a classroom bulletin board summarizing their findings.

Related Courses

Course Number1111 Course Title222
2104060: M/J Introduction to Personal Financial Literacy (Specifically in versions: 2019 - 2022, 2022 - 2023, 2023 - 2024, 2024 and beyond (current))


Related Access Points

Access Point Number Access Point Title
SS.8.FL.3.AP.1 Identify how financial institutions use deposited funds to gain profit and offer loans.


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