Georgia standard · Social Studies

`SSPFL7`Interest Rates and Consumers

Explain how interest rates affect various consumer decisions.

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Expectations

SSPFL7.a
Explain how actions taken by the Federal Reserve System affect interest rates.
SSPFL7.b
Compare interest rates on loans and credit cards from different institutions including banks, credit unions, pay-day loan facilities, and title-pawn.
SSPFL7.c
Define annual percentage rate and analyze how different interest rates can affect monthly payments on loans.
SSPFL7.d
Explain the difference between simple and compound interest and the difference between fixed and variable interest.
SSPFL7.e
Define nominal and real returns and explain how inflation affects savings and investment accounts earning interest.

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