Lending & Decisions to Lend to Others

T.i.P.S.

Students should be able to identify examples of lending such as lending money to a friend with the expectation that they will repay or letting a friend borrow their bicycle until they can get theirs fixed. Students should understand that not everyone who borrows something returns it or pays the money back.

Example

Read each of the following problem situations and decide the best solution. a)  Teresa is taking dance lessons again this year. Her friend Kristyn signed up for her first time and doesn’t have any ballet shoes yet. Kristyn asked to borrow Teresa’s ballet shoes until she and her mother can get to the dance shop this week-end. What should Teresa consider before making this lending decision?
b)  The math club is having a bake sale after lunch. Kolton wants a cupcake but doesn’t have any money, so he asked his friend Zach if he could borrow some money for a cupcake. What should Zach consider before making this lending decision?
 Hint Possible Solutions 

TEKS

2.11 Personal financial literacy. The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to:   (E) identify examples of lending and use concepts of benefits and costs to evaluate lending decisions

Feedback

Click here to submit feedback.