EQ: WHAT IMPACT DOES INTEREST HAVE ON THE BORROWER AND THE LENDER?
LEARNING TARGET I can use the simple interest formula to calcuLate interest on a loan. SUCCESS CRITERIA I CAN EXPLAIN THE DIFFERENCE BETWEEN SIMPLE AND COMPOUND INTEREST. Vertical Divider
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INTERSTING
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DO NOW:
EQ: WHAT IMPACT DOES INTEREST HAVE ON THE BORROWER AND THE LENDER?
LEARNING TARGET
I can use the simple interest formula to calcuLate interest on a loan.
SUCCESS CRITERIA
I can explain the difference between simple and compound interest.
CORNELL NOTES
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Checking Accounts give individuals the easiest access to their funds via checks, but pay little or no interest.Most banks require students of middle school age to have a parent as a cosigner when opening a checking account. Individuals also have access to their funds via their debit cards.
Savings Accounts provide some interest but require the individual to visit a bank branch, use a debit card at an ATM, or go online to have access to his or her funds. Certificates of Deposit (CDs) have the advantage of offering higher interest rates than savings accounts, but have tighter restrictions on access to funds. Individuals purchasing a CD must commit to holding it for a period of time, generally ranging from six months to five years or more. Selecting the term of a CD involves some risk. When a long-term CD is purchased and interest rates later go up, the purchaser only receives the interest rate stated at the time of purchase. If it turns out that interest rates go down, the purchaser will be happy to have locked in a favorable rate. |
What is interest?
TURN + TALKGet a Stopwatch like this or make your own! At: Online Stopwatch |
Calculate Interest
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simple_interest_project.xlsx | |
File Size: | 30 kb |
File Type: | xlsx |