Simple and Compound Interest - Guided Notes and Homework

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4.8 (142 ratings)

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Eddie McCarthy

1.2k Followers

Grade Levels

6th - 12th, Homeschool

Subjects

Algebra, Word Problems, Algebra 2

Resource Type

Worksheets, Homework, Scaffolded Notes

Standards

CCSS7.RP.A.3

CCSSHSF-IF.C.8b

CCSSHSF-LE.A.1

CCSSHSF-LE.A.1a

CCSSHSF-LE.A.2

Formats Included

Pages

9 pages

$2.00

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$2.00

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Eddie McCarthy

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The students enjoyed getting a better understanding of real world applications of mathematical formulas we were learning.

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Description

* Download the preview for details! *

This 2-day lesson includes 6 pages of guided notes, a 1-page assignment, and a 2-page assignment.

This lesson works well in both pre-algebra and algebra classes. The goal for part 1 is to understand the process of simple and compound interest, so students will use more of a step-by-step approach. But in part 2 they discover formulas and why we need them.

Students learn about simple and compound interest in the order below. They will:

- Learn important vocabulary

- Solve simple interest problems in two steps (finding the interest amount and then adding it to the original)

- Learn the difference between simple and compound interest

- Solve compound interest problems with a year-by-year approach

- On day 2, discover and use the annual compound interest formula

- Discover and use the annual simple interest formula

* Part 2 works well as an intro into linear vs. exponential relationships

Related activity:

Exponential Functions - Word Scramble Activity

Total Pages

9 pages

Answer Key

Included

Teaching Duration

2 days

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Standards

to see state-specific standards (only available in the US).

CCSS7.RP.A.3

Use proportional relationships to solve multistep ratio and percent problems. Examples: simple interest, tax, markups and markdowns, gratuities and commissions, fees, percent increase and decrease, percent error.

CCSSHSF-IF.C.8b

Use the properties of exponents to interpret expressions for exponential functions. For example, identify percent rate of change in functions such as y = (1.02) to the 𝘵 power, 𝘺 = (0.97) to the 𝘵 power, 𝘺 = (1.01) to the 12𝘵 power, 𝘺 = (1.2) to the 𝘵/10 power, and classify them as representing exponential growth or decay.

CCSSHSF-LE.A.1

Distinguish between situations that can be modeled with linear functions and with exponential functions.

CCSSHSF-LE.A.1a

Prove that linear functions grow by equal differences over equal intervals, and that exponential functions grow by equal factors over equal intervals.

CCSSHSF-LE.A.2

Construct linear and exponential functions, including arithmetic and geometric sequences, given a graph, a description of a relationship, or two input-output pairs (include reading these from a table).

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Eddie McCarthy

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