1 / 16

Personal Financial Literacy in the Mathematics Classroom

Personal Financial Literacy in the Mathematics Classroom. Patty McKenna, PhD Metropolitan State University(!) of Denver Please contact me any time with questions, comments, or requests for electronic documents. mckennap@mscd.edu. The Plan. Derivation of the Compound I nterest Formula

lucinda-adriano
Download Presentation

Personal Financial Literacy in the Mathematics Classroom

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Personal Financial Literacy in the Mathematics Classroom Patty McKenna, PhDMetropolitan State University(!) of DenverPlease contact me any time with questions, comments, or requests for electronic documents. mckennap@mscd.edu

  2. The Plan • Derivation of the Compound Interest Formula • A Brief Review of Logarithms • Using the Annuity Formulas • Using the TI-83/84 on Finance Problems • Derivation of the FV Formula (if time allows)

  3. Derivation of the Compound Interest Formula • For this, we go to our handout…

  4. The Plan • Derivation of the Compound Interest Formula ✓ • A Brief Review of Logarithms • Use of the Annuity Formulas • Using the TI-83/84 on Finance Problems • Derivation of the FV Formula (if time allows)

  5. A Brief Review of Logarithms “The exponent to which base b must be raised to get x is y.”

  6. The Most Useful Property of Logarithms But… WHY??!!! The exponent to which base b must be raised to get xt is exactly the same as t times the exponent to which base b must be raised to get x.

  7. A more formal “proof”…

  8. The Most Useful Property of Logarithms

  9. The Plan • Derivation of the Compound Interest Formula ✓ • A Brief Review of Logarithms ✓ • Use of the Annuity Formulas • Using the TI-83/84 on Finance Problems • Derivation of the FV Formula (if time allows)

  10. Using the Annuity Formulas • For this, we go back to our handout…

  11. The Plan • Derivation of the Compound Interest Formula ✓ • A Brief Review of Logarithms ✓ • Use of the Annuity Formulas ✓ • Using the TI-83/84 on Finance Problems • Derivation of the FV Formula (if time allows)

  12. Using the TI-83/84 on Finance Problems • For this, we’ll go back to the handout and check some of our work.

  13. The Plan • Derivation of the Compound Interest Formula ✓ • A Brief Review of Logarithms ✓ • Use of the Annuity Formulas ✓ • Using the TI-83/84 on Finance Problems ✓ • Derivation of the FV Formula (if time allows)

  14. Derivation of the FV Formula (if time allows) • For this, we’ll go “old-school”, starting with the “grains of wheat” problem.

  15. The Plan • Derivation of the Compound Interest Formula ✓ • A Brief Review of Logarithms ✓ • Use of the Annuity Formulas ✓ • Using the TI-83/84 on Finance Problems ✓ • Derivation of the FV Formula✓

  16. Personal Financial Literacy in the Mathematics Classroom Patty McKenna, PhDMetropolitan State University(!) of DenverPlease contact me any time with questions, comments, or requests for electronic documents. mckennap@mscd.edu

More Related