Students will learn how to describe, and be able to calculate, simple and compound interest for an investment or a payment. They will begin to understand the cost of borrowing money on interest.
- Explain simple interest.
- Use simple interest to calculate loan payments.
- Use simple interest to calculate the value of investments.
- Explain compound interest.
- Use compound interest to calculate total cost of a loan.
- Use compound interest to calculate the value of investments.
Math Skills Being Utilized
- Critical Thinking
- Comparing Numbers
- Adding and Subtracting Decimals
Ideas for Teaching
- Teach how to calculate interest on Excel setting up monthly payment options.
- Show how by paying extra the debt decreases so quickly.
- Teach ways to save money and having interest work for you rather than borrow money.
Course Pacing Guide