Interest is compensation for borrowing money. Whether it’s you lending to others or others lending to you, the lender requires a percentage of additional money paid. If the money were not being loaned out, the lender could use it for other purposes. But be...
Read More >>
Guiding questions:
- What is interest?
- What is the difference between an interest rate and an APR (annual percentage rate)?
- How do you calculate interest?
Content:
- Simple vs compound interest
- Loans
Objective:
- Understand the different types of interest
- Where they appear
- Pros/cons of each
- Be able to calculate interest
Vocabulary:
- Fed
- Compound interest
- Simple interest
- Principle
- Quarterly
- Annually
Activity:
Option 1: Worksheets
- https://tinyurl.com/3sx523jz - simple interest worksheet (word problems)
- https://tinyurl.com/j9xfd8ue - compound interest worksheet (word problems)
- https://tinyurl.com/6h6dn66t - general interest worksheet (number problems)
Option 2: Games
https://www.mathgames.com/skill/7.58-compound-interest - compound interest game
Downloadable Slideshow:
https://docs.google.com/presentation/d/1UgAD1xOp_OQhP-CpeYpzeVdEtF2BTntB5qcquzbydws/edit?usp=sharing
Additional Resources:
https://www.calculator.net/interest-calculator.html - interest calculator