Personal financial literacy
3.9(D)Borrowing Money and Paying It Back
Explain that credit is used when wants or needs exceed the ability to pay and that it is the borrower's responsibility to pay it back to the lender, usually with interest.
Part of The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security
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Intro
What Is Credit?
You will learn what credit is and why people pay back more than they borrow. Sometimes you want or need something, but you do not have enough money yet. Credit lets you borrow money now and promise to pay it back later, usually with a little extra added on.
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