SS.4.FL.4.1

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

Remarks

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
Standard: Using Credit
Date Adopted or Revised: 06/14
Status: State Board Approved

Related Courses

This benchmark is part of these courses.
5021060: Social Studies Grade 4 (Specifically in versions: 2014 - 2015, 2015 - 2022, 2022 - 2023, 2023 - 2024, 2024 and beyond (current))
7721015: Access Social Studies - Grade 4 (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2023, 2023 and beyond (current))

Related Access Points

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.

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