Compare and contrast annual and monthly percentage rates for credit cards and loans.
Compare and contrast the benefits of using a credit card or paying cash for a purchase for both the purchaser and the business.
Determine the impact of credit ratings on the cost of goods and services purchased on credit.
Calculate the components of a monthly mortgage payment including down payment, principal, interest, taxes, and insurance (PITI) and discuss what percentage of a person’s income should be set aside for a home purchase.
Prepare a partial amortization schedule of a mortgage using varying credit ratings.
Compare the total interest paid on a 15-year and a 30-year mortgage at various credit ratings.
Compare and contrast interest-only, fixed-rate, and adjustable-rate loans using various credit ratings.
Explain credit ratings and credit reports and why they are important to consumers.
Research rights and responsibilities of consumers established by credit legislation.
Examples: truth-in-lending, fair credit reporting, equal credit opportunity, fair debt collection
Markup and Discounts
Interpret different types of discounts and their effects on personal and business expenses.
Identify various types of discounts.
Calculate chain, trade, and cash discounts and net selling prices of items using each type of discount.
Determine the price of products after applying coupons, sales incentives, and/or rebates.
Assess and calculate markup or markdown.
Determine the rate of the markup or markdown.
Find the cost, markup, or selling price when any two of the three are known.
Convert markups from cost to selling price or from selling price to cost.
Data Analysis and Reporting
Analyze business data to discover trends for strategic decision-making.
Calculate mean, median, and mode in business data, and use results to measure progress toward business goals.
Examples: salary, pricing
Distinguish between a simple average and a weighted average and calculate each.
Make predictions and decisions based on data and explain reasoning.
Explain how using statistics, probability, and systems of measurement impacts business decisions.
Analyze lending methods including construction loans, second mortgages, refinancing, and investment capital.
Display business data in tables, charts, graphs, and infographics.
Identify and construct various types of graphs and charts to interpret business data.
Compile and arrange numerical facts in an organized manner in a table, chart, or infographic to support a business presentation and/or to validate purchase decisions.
Evaluate and solve practical problems involving business and consumer applications, including business tax forms, pricing for profit, sales records, income and expenses, profit and loss, double-entry bookkeeping, debits, and credits.
Analyze journals, statements, ratio analysis, percent analysis, and inventory turnover.
Payroll
Create an individual payroll and earnings record for a salaried and an hourly worker.
Calculate pay based on piecework, salary, commissions, and graduated commissions.
Calculate gross pay based on an hourly wage with an overtime policy.
Calculate an employee’s net earnings per pay period using varied amounts for health insurance, FICA, and tax deductions.
