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This Compounding with a 5% Interest Rate lesson plan also includes:
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The balance in an account continuously compounding interest is the context of this engaging task. Your young accountants will investigate the ending balance in an account as they compound the interest more and more. Learners write the general algebraic form of the model and then use it to find how the number e is involved in continually compounding interest.
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Instructional Ideas
- Further models of compounding interest, especially examples including credit cards, would be a great next lesson
Pros
- Includes very detailed description of the solution
- Helpful commentary for the teacher
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- None