Submitted by hmiamid t3_xy7qym in dataisbeautiful
ArkGuardian t1_irgcekd wrote
Reply to comment by Emfx in [OC] House price you can afford by paying 1000/month for 30 years vs. interest rate by hmiamid
It is? There's a lot of things missing from American hs curriculum but compound interest is definitely on there
Emfx t1_irghn5m wrote
Talked to my sister who graduated a few years ago, and she said she never had classes on it.
I did some Googling, it appears only 14 states require some type of personal finance course to graduate:
- Alabama — High school students must take a one-year career preparedness course that includes personal finance lessons.
- Florida — High school students are required to take a personal finance class to graduate.
- Georgia — High school students are required to take a financial literacy class in their 11th or 12th year to graduate.
- Iowa — All school districts require students to take at least one half-year personal financial literacy course beginning in 2022-23.
- Michigan — High school students must take a personal finance course before graduation to receive a diploma.
- Mississippi — Beginning in 2022, Mississippi will require students to take a college and career readiness course before graduation. Financial literacy is one of the units for students in that course.
- Missouri — Students must earn one-half credit in the area of personal finance to graduate.
- Nebraska — Beginning with the 2023-24 school year, students must take at least five hours of personal finance or financial literacy classes to graduate high school.
- North Carolina — Students are required to pass a personal finance class to graduate.
- Ohio — Students entering the ninth grade on or after July 1, 2022, must earn one-half credit of financial literacy to graduate.
- Rhode Island — The state is developing a plan to create statewide standards for financial literacy in public schools.
- Tennessee — High school students must take a half-year course in personal finance to graduate.
- Utah — All high school students must take a half-year course on personal finance topics as well as an end-of-course assessment administered by the state.
- Virginia — High school students must take one-year economics and personal finance course as a graduation requirement.
ArkGuardian t1_irgn18k wrote
Compound interest is typically taught as part of the exponential functions unit in Algebra 2. A separate financial literacy class is needed but not a requirement to learn about interest rates.
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