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

This lesson plan outlines the first two weeks of an A/B block course focused on simple and compound interest. Week 1 introduces students to the concepts through an inquiry lesson, using engaging activities such as calculating interest on $100 at 5.5% over three years. Students explore the differences between simple and compound interest while discussing real-world implications. In Week 2, lessons delve deeper into calculations and applications, featuring additional resources and key concepts like the Rule of 72. The objective is to help students understand and apply compound interest effectively.

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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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