TEKS: Chapter 113. Social Studies See All Teacher Resources

113.49.c.10

(10) Credit and borrowing. The student evaluates a decision to use credit. The student is expected to:

• (A) examine the components of the cost of borrowing, including annual percentage rate (APR), fixed versus variable interest, length of term, grace period, and additional fees such as late payment, cash advance, and prepayment penalties;
• (B) explain strategies to reduce total cost of borrowing such as making a higher down payment and additional principal payments; and
• (C) differentiate between the use and cost of debit and credit cards.