Understand the concept
Identify principal, APR, term, fees, and payment dates.
Teaching action
Ask the learner to restate the principle using their own example.
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FINANCE / BEGINNER / INSTRUCTOR
Outcome: Compare loans using total repayment rather than payment alone.
Review edition: This curriculum is open for inspection. It is not yet available for purchase, credentialing, or unsupervised instruction. Verify lending illustrations and APR conventions.
Identify principal, APR, term, fees, and payment dates.
Ask the learner to restate the principle using their own example.
Compute total paid as all payments plus upfront fees.
Work one case together and narrate the decision at each step.
Check whether a lower payment hides a longer term.
Give the learner a new case; observe the process before offering a correction.
Test repayment during a reduced-income month.
Request an independent explanation and ask which assumptions might change the result.
Choose between two hypothetical financing offers.
Show total cost, cash impact, tradeoff, and a reasoned choice.
Accept a written, spoken, or accessible equivalent response when it demonstrates the same skill. Mark each criterion met, developing, or missing; never mark attendance alone as competency.
Primary source to review: Official topic guidance ↗
Content review: Verify lending illustrations and APR conventions.