Financial Literacy

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

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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

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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 learned.