OVERVIEW & PURPOSE
§111.28.B.12 Personal financial literacy. The student applies mathematical process standards to develop an economic way of thinking and problem solving useful in one’s life as a knowledgeable entrepreneur, consumer and investor.
As new entrepreneurs students will use strategic planning, budgets, and business plans to analyze, calculate, & identify financial opportunities.
- Calculate the total cost of repaying a loan, including credit cards and easy access loans, under various rates of interest and over different periods using an online calculator.
- Explain how small amounts of money invested regularly, including money saved for college and retirement, grow over time.
- Identify and explain the advantages and disadvantages of different payment methods.
- Analyze situations to determine if they represent financially responsible decisions and identify the benefits of financial responsibility and the costs of financial irresponsibility.
- Estimate the cost of a two-year and four-year college education, including family contribution, and devise a periodic savings plan for accumulating the money needed to contribute to the total cost of attendance for at least the first year of college.