Ch 13: Financial Literacy Overview

About This Chapter

This financial literacy overview offers the knowledge boost you need to improve your grades, excel on a test or earn course credit. Use our engaging lessons, multiple-choice quizzes and practice exam to strengthen your understanding of mortgages, stocks, loans and more in a short period of time.

Financial Literacy Overview - Chapter Summary

Our instructors have created entertaining lessons you can study from home or on-the-go to gain greater insight into the basics of financial literacy. Whether you need help understanding installment purchases, mortgage rates or compounding interest, you've reached the right place! Choose the lessons you feel will help you best understand financial literacy, and assess your comprehension of these lessons by taking short quizzes. Clarify topics you don't fully grasp by sending questions to our experts. Taking advantage of these helpful resources will enable you to do the following:

  • Solve interest problems by calculating interest amounts and interest rates
  • Define and find the simple interest rate
  • Use the formula for compounding interest
  • Explain how student loans work and calculate monthly student loan payments
  • Calculate fixed installment payments
  • List three types of mortgage loans and discuss loan lengths
  • Share the definition and types of mortgage rates
  • Identify and describe different investment opportunities in stocks and bonds

8 Lessons in Chapter 13: Financial Literacy Overview
Test your knowledge with a 30-question chapter practice test
How to Solve Interest Problems: Steps & Examples

1. How to Solve Interest Problems: Steps & Examples

If you want to know how your money can earn money, then it's essential to learn about solving interest problems. In this lesson, we'll practice calculating interest amounts and interest rates.

How to Find Simple Interest Rate: Definition, Formula & Examples

2. How to Find Simple Interest Rate: Definition, Formula & Examples

When we borrow a certain sum of money over a period of time, we agree that we will pay it back, along with a fee, known as the interest owed. Similarly, when we invest a sum of money in a savings account, the account earns us interest. This lesson will show you how to calculate a certain type of interest called simple interest.

Compounding Interest Formulas: Calculations & Examples

3. Compounding Interest Formulas: Calculations & Examples

Compound interest is a great way to have your money work for you. In this lesson, find out the formula for calculating compound interest and practice using the formula with several examples.

Calculating Monthly Student Loan Payments

4. Calculating Monthly Student Loan Payments

In this lesson, we will discuss how student loans work and how they are calculated. We will also talk about the plans you should make to save money by paying your loan back sooner than what the payment schedule says.

Installment Purchases: Payment & Terms

5. Installment Purchases: Payment & Terms

After watching this video lesson, you will know how installment purchases work. Learn how you can calculate the amount of your fixed installment payment.

Buying a House: Mortgage Types & Loan Length

6. Buying a House: Mortgage Types & Loan Length

In this lesson, we'll discuss the three types of mortgage loans: Federal Housing Authority, conventional, and Veteran's Administration. You'll also learn about the two main repayment options: 15 years and 30 years.

Mortgage Rate: Definition & Types

7. Mortgage Rate: Definition & Types

During the exciting process of buying a home, most buyers need to also decide on what type of mortgage they want. In this lesson, we'll discuss the most popular types of mortgages and some of the benefits and costs of each.

Investment Opportunities in Stocks and Bonds

8. Investment Opportunities in Stocks and Bonds

Investors often turn to the stock and bond markets when investing their money. Each market offers opportunities and risks for the individual investor. In this lesson, we'll explore the nature of these investments.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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