This Compound Interest – A Millionaire’s Best Friend lesson plan also includes:
This is a career and technology lesson where a mathematical model for calculating the value of an investment earning compound interest is developed. Learners compare various investments with varying interest rates to see the effects of compound interest over time. The lesson contains seven elements: Introduction (hook and vocabulary), math awareness assessment, math example work through, contextual math-in-CTE examples walk through, traditional math examples work through, problems for learners to demonstrate their understanding, and finally a formal assessment of student learning.
- Developing the use of an excel spreadsheet to organize, calculate, graph, and compare various exponential functions is a very powerful tool for learners
- Provide each learner or collaborative group with a whiteboard and dry erase marker to use to quickly solve their problems and use as a presentation tool
- Includes a two-column lesson plan with teacher notes and key
- Additional links suggested for further study of exponential functions