Explain how interest rates affect various consumer decisions.
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Explain the difference between simple and compound interest and the difference between fixed and variable interest.
Define nominal and real returns and explain how inflation affects savings and investment accounts earning interest.
Define annual percentage rate and analyze how different interest rates can affect monthly payments on loans.
Explain how actions taken by the Federal Reserve System affect interest rates.
Compare interest rates on loans and credit cards from different institutions including banks, credit unions, pay-day loan facilities, and title-pawn.