Simple & Compound Interest
Curriculum Expectation
Overall Expectation
Demonstrate the knowledge and skills needed to make informed financial decisions.
Specific Expectation
Determine the growth of simple and compound interest at various rates using digital tools, and explain the impact interest has on long-term financial planning.
Learning Objectives/Big Idea
Learning Objective: To calculate compound and simple interest to solve problems.
Big Idea: Understanding simple and compound interest helps one make financial decisions when saving and budgeting for big expenses.
Binogi Related Resources
Additional Resources - Lesson Plan Template
Vocabulary
- Simple interest
- Saving
- Borrowing
- Interest
- Interest rate
The Bilingual and Add Your Language Glossary Sheets to the left include terms from Binogi’s Simple and Compound Interest Videos.
Interactive Game Booklet - English/Mandarin
Flipped Classroom
Students are assigned to watch the Binogi videos on Simple and Compound Interest a prior to the lesson. (Make sure students have an access to internet). Then, they record at least 1 question and 1 interesting/surprising fact they learned from the videos to share with the class Padlet or Scrumblr.
Language Friendly Pedagogy
Students can use the Concept Detective table to understand new concepts they are learning. They may include a description in English or a language of their choice. They can draw a picture or add an image to explain the meaning of one of the concepts they have learned.