Georgia standard · Social Studies

`SSEPF4`Interest Rates and Consumers

Explain how interest rates affect various consumer decisions.

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Expectations

SSEPF4a
Compare interest rates on loans and credit cards from different institutions including banks, credit unions, pay-day loan facilities, and title-pawn companies.
SSEPF4b
Define annual percentage rate and describe how different interest rates can affect monthly payments on loans.
SSEPF4c
Use an online amortization tool to show how payments on a fixed loan like a mortgage are applied to interest and principal.
SSEPF4d
Explain the difference between simple and compound interest and the difference between fixed and variable interest.
SSEPF4e
Define nominal and real returns and explain how inflation affects interest-earning savings and investment accounts.

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