Borrowers who use credit cards for purchases and who do not pay the full balance when it is due pay much higher costs for their purchases because interest is charged monthly. A credit card user can avoid interest charges by paying the entire balance within the grace period specified by the financial institution.
Standard detail
4.
Benchmark
Depth 1Parent ID: BD0010AE2C194BBABEE75C646811EF7EStandard set: Grades 5, 6, 7, 8
Original statement
Quick facts
- Statement code
- 4.
- List ID
- 4.
- Standard ID
- 19B8A119F2A54F1DA0FCEA25DD0335F7
- ASN identifier
- S2604577
- Subject
- Financial Literacy
- Grades
- 05, 06, 07, 08
- Ancestor IDs
- BD0010AE2C194BBABEE75C646811EF7E
- Source document
- National Standards for Financial Literacy (2013)
- License
- CC BY 3.0 US