Financial institutions advertise loan costs to potential borrowers using the Annual Percentage Rate (APR), expressed as an annual percentage of the loan principal. Low introductory rates offered to attract customers may increase later.
Standard detail
MC.2
Depth 1Parent ID: 7B34AD0C54094F589403F01DB787BD8CStandard set: Grade 8
Original statement
Quick facts
- Statement code
- MC.2
- List ID
- 2
- Standard ID
- 914E5E6496364455A734DDDCD55FE547
- Subject
- Personal Financial Education (2021)
- Grades
- 08
- Ancestor IDs
- 7B34AD0C54094F589403F01DB787BD8C
- Source document
- National Standards for Personal Financial Education
- License
- CC BY 4.0 US