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Tentative Outline for First Two Weeks (A/B Block)

Tentative Outline for First Two Weeks (A/B Block). 1 st Week: Day 1: Introductory Inquiry Lesson (e.g. The penny doubled) Course Overview Day 2: Objective: Find the difference between simple interest and compound interest. (Lessons 3-3- 3-5 in book.).

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Tentative Outline for First Two Weeks (A/B Block)

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  1. Tentative Outline for First Two Weeks (A/B Block) 1st Week: Day 1: Introductory Inquiry Lesson (e.g. The penny doubled) Course Overview Day 2: Objective: Find the difference between simple interest and compound interest. (Lessons 3-3- 3-5 in book.)

  2. Tentative Outline for First Two Weeks (A/B Block) Suggested opening with 3-3, 3-4, 3-5 and then return to beginning of the chapter. To engage: • Students should have some previous knowledge of simple interest. Using technology, ask students to calculate $100 at 5.5% over three years. Ask if banks use simple interest. • Discuss this famous Albert Einstein quote with your students: “The most powerful force in the universe is compounding.” (Use techniques such as student pair/share to discuss.) 3. Students should compute $100 at 5.5% compounded annually over three years.

  3. Share the Morgan Taylor poster and invite them to investigate how this is possible. Chapter 3 holds the key!

  4. Tentative Outline for First Two Weeks (A/B Block) Continue with Lesson plans for 3-4 and 3-5. (p. 138 Examples 1-4) 2nd Week: Day 1: Lesson 3-5 Day 2: Lesson 3-6 Additional Resources: 1.ASCPA Money and Banking: Time Value of Money Lesson 1 2. Algebra II HSAG 7.3 compounding Interest: Students explore how as the compounding time increases, the balance levels off.

  5. Key Concepts from Activity 3-4, 3-5, 3-6 Contextual definitions: • Simple interest • Compound interest • Rule of 72 Objectives: • Understanding the advantages of using compound interest for savings vs. simple interest. • Being able to apply the compound interest formula to solve real world problems.

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