SS.8.FL.3.3

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Discuss that interest rates paid on savings and charged on loans, like all prices, are determined in a market.

Remarks

Explain why banks that experience an increase in the number of people who want loans may decide to pay higher interest rates on deposits.
General Information
Subject Area: Social Studies
Grade: 8
Strand: Financial Literacy
Standard: Identify and compare the different means and risks of saving and investing money, including the impact of inflation and interest rates.
Date Adopted or Revised: 06/14
Status: State Board Approved

Related Courses

This benchmark is part of these courses.
2104060: M/J Introduction to Personal Financial Literacy (Specifically in versions: 2019 - 2022, 2022 - 2023, 2023 - 2024, 2024 and beyond (current))

Related Access Points

Alternate version of this benchmark for students with significant cognitive disabilities.
SS.8.FL.3.AP.3: Identify why banks that experience an increase in the number of people who want loans may decide to pay higher interest rates on deposits.

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