Saving Money with Simple and Compound Interest


This lesson begins with a brief class discussion about saving money. Students are introduced to the concept of interest and different types of interest. In small groups, students will compare simple interest and compound interest through computations. The lesson closes with a class discussion about compound interest and when and where it is used.

NBEA Standard(s):
  • Computation, I. Mathematical Foundations
  • Computation, II. Number Relationships and Operations
  • Computation, III. Patterns, Functions, and Algebra
  • Computation, VI. Problem-Solving Applications

Lesson Plan Details:

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