8-1a: Identify financial institutions and businesses that offer consumer credit.
8-2a: Describe how lenders advertise loan costs to potential borrowers.
8-3a: Describe the effect of higher interest rates and longer loan terms on the total cost of a loan.
8-4a: Explain why credit card interest rates tend to be higher than rates for secured loans, such as automobile loans.
8-5a: Identify the types of information contained in a credit report.
8-6a: Explain why using credit to finance education and housing could be beneficial.
8-7a: Identify indicators that a person has accumulated too much debt.
8-1b: Compare lenders based on type of credit offered, interest rates, and fees.
8-2b: Calculate APR, given annual interest and loan amount.
8-3b: Compare the interest rate paid by a financial institution on savings accounts to the interest charged by the same institution on loans.
8-3b: For a given monthly payment, loan amount, and loan repayment period, calculate the total amount of interest paid by the borrower.
8-4b: Describe how a credit card user can minimize interest charges on their credit card purchases.
8-5b: Discuss how a borrower's credit history can impact their borrowing costs.
8-6b: Assess the benefits and costs of using credit to finance education and housing versus using credit to purchase food and clothing.
8-7b: Predict the possible consequences of having a lot of debt payments relative to income.
8-1c: Explain how market conditions impact interest rates.
8-2c: Investigate what happens to a low introductory interest rate when the borrower misses a payment or makes a late payment.
8-3c: Explain how financial institutions get the money to pay interest to their customers who deposit money in savings accounts.
8-6c: Justify the use of credit for a specific purchase.
