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Lesson Planet
This Smart Money assessment also includes:
Watch the money grow daily. Scholars tackle a problem to determine how much money they will have if a dollar grows at 10 percent compounded daily after a month. Using that knowledge, learners notice the difference between varying savings times. Pupils make the connection between saving money and using a credit card.
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CCSS:
Adaptable
Concepts
Additional Tags
Instructional Ideas
- Determine how long it will take to earn a specific dollar amount
- Research banks and credit cards to find interest rates and compare amounts if using those rates
Classroom Considerations
- The class should be able to calculate simple interest
Pros
- Includes a rubric with information on how to distribute points
- Resource construction allows for individuals to solve without knowing anything about exponents
Cons
- References an attached sheet to use to keep track of calculations that is not there