Earning Simple Interest


This lesson begins with a whole class discussion about interest earned and interest paid on loans. Students are introduced to the concepts of simple interest, principal and loans. They will explore the concept both from the perspectives of earning interest and paying interest, computing interest earned on savings and interest paid on loans. If time allows, students will read the Knowledge@Wharton High School (KWHS) Kiva article and talk about interest rates for microfinance. The lesson finishes with students discussing things for which they might take out a loan, and understanding the advantages and disadvantages of leaving money in an account.

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