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How Interest Works for Savers Versus Borrowers

Credit, Borrowing, and Interest

Kindergarten·Social Studies·US-IL-SS

Updated 1 month ago · 4 views

Compare how interest is earned as income by bank depositors while paid as an added cost by loan borrowers.

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Credit, Borrowing, and Interest

Kindergarten · Social Studies · US-IL-SS

5 lessons

Goal

Explain the mechanics of borrowing, borrower obligations to repay over time, and the role of interest as the cost of credit.

5 lessons

0 of 5 done

Understanding Borrowing and Lending: Getting Value Now and Repaying LaterUp next
What Is Interest: The Price of Borrowing MoneyNot started yet
How Interest Works for Savers Versus BorrowersYou are here
Types of Loans: Auto, Mortgages, and Student LoansNot started yet
Responsibilities and Risks of Using CreditNot started yet

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Learning standards covered

SS.FL.4.5Illinois Social Studies Standards · All ages

Explain that interest is the price the borrower pays for using someone else’s money.

SS.EC.FL.3.3Illinois Social Studies Standards · All ages

Describe the role of banks and other financial institutions in an economy.