Basic Math Scope and Sequence, Credit Purchases

Basic Math Standard V, Consumer Applications

Lesson 560, Credit Purchases

Identifying the principal, interest rate, and time

Calculating interest

Calculating installment payment of purchase with simple interest

Calculating total of payments

Calculating down payment

Calculating amount to be financed given base price, down payment, and amount of taxes/fees

Calculating total cost given amount of payment, time, down payment, taxes, and fees

Defining compound interest

Defining APR

Comparing cash to credit purchases

Calculating average daily balance


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