Title: Calculate payment schedules for a loan, using spreadsheets, calculators, and/or online tools.
Course: Agricultural Business Management III (18201-36) > Section: Making Consumer Choices

Calculation should include

- using the simple interest formula (Interest = Principal x Rate x Time)
- explaining how the amount of the principal, the period of the loan, and the interest rate affect the amount of interest charged.

Process/Skill Questions:

- What is the principal of a loan?
- Why is the period of the loan important?
- What is the interest rate of a loan, and how does this affect the amount of money that must be repaid to the lender?