Financial Literacy 20, 30
Course Configurations
Examine the concept of interest.
Indicators for this outcome
| (a) | Discuss the role of interest in borrowing and saving/investing. |
| (b) | Explain the variables of simple and compound interest, including time, interest rate and principal. |
| (c) | Compare the effect of compound and simple interest on short- and long-term savings. |
| (d) | Solve contextual problems that involve simple and compound interest. |
| (e) | Forecast results for a variety of scenarios involving simple and compound interest. |
| (f) | Compare how various online interest calculators can be used to calculate results for a variety of scenarios. |
| (g) | Identify how various cultures (e.g., Islamic) view the application of interest and how these worldviews affect financial decisions. |
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