Personal Finance – 5/17/17
I. Bellwork
- Provide two reasons why someone would use credit.
- List at least 3 examples of things people buy on credit.
II. Objectives:
- Compute compound interest using a spreadsheet
- Apply the Rule of 72 to compute how money can be doubled.
- Explain how compound interest is computed
III. Discussion: Explanation of Compound Interest & Rule of 72
· A. INVESTOPEDIA VIDEO: COMPOUND INTEREST EXPLAINED
· B. COMPOUND-INTEREST-CALCULATOR
· C. THE RULE OF 72
IV. Notebook
- Tree Maps: Advantages & Disadvantages of Credit
- Flow chart – Compound interest
- Flow Chart – Rule of 72
V. Classwork
- Compound Interest Activity on Google Classroom
- 16.1.2 Rule of 72 and Compounding Interest on iLearn
- iLearn 16.1 on Vocabulary
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