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Beginning Balance: Financial Literacy (Interest)

3 minutes 54 seconds

Now Playing As: Captioned (English) (change)

Interest, in finance and economics, is payment from a borrower to a lender. It is the charge for the privilege of borrowing money, typically expressed as annual percentage rate (APR). Part of the "Beginning Balance: Financial Literacy" series.

Media Details

Runtime: 3 minutes 54 seconds

Topic: Business, Education
Subtopic: Consumer Education, Finance and Banking, General Education
Grade/Interest Level: 7 - 12
Standards:

Release Year: 2020
Producer/Distributor: Ohio Broadcast Educational Media Commission
Series: Beginning Balance: Financial Literacy
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Digital images of 3 side-by-side gray credit card shapes with 2 black lines, grid of 9 small rectangles, and yellow and orange overlapping circles.

Digital image of financial table, 1 labeled "simple interest loan," and the other, "compound interest loan." Each column has interest rate, fee, and interest payment totals for years 1, 2 and 3.

Digital image of large black dollar signs flanking an icon depicting a family of 3.

Still image from: Beginning Balance: Financial Literacy (Paying Income Tax & Filing Taxes)

Still image from: Beginning Balance: Financial Literacy (Budgeting)

Still image from: Beginning Balance: Financial Literacy (Saving)