Lesson Plan For Teaching Simple Interest

I prt interest principal x rate of interest year as a decimal x time in years.

Lesson plan for teaching simple interest. Simple interest can be an amount owed by a borrower or an amount gained to be paid to a borrower. Ask class what interest is. Car loans mortgage loans vacation loans etc. Example mwbs simple interest mwbs qq exercise percentage of an amount using a calculator mwbs exercise.

Quickly find that inspire student learning. Define it first as the amount charged to borrow money. In this simple interest worksheet students read word problems and determine the needed information. Use these activities and games to help your students master calculating simple interest.

Find simple interest activities lesson plans and teaching resources. Lesson objective the students will be able to identify the parts of. They compute the simple interest determine amount invested or identify the final balance. Choose several students and give them the choice of taking 1000 today or waiting one month and taking the money with ten or fifteen percent added to it.

Work out percentages of amounts to understand what simple interest is. Simple explanations and examples lead learners through the concepts and steps of calculating simple and compound interest. Short term and explain that it is a very simple way to calculate interest and mention that banks and other lending institutions usually use compound interest which will be discussed later. Your learners will get lots of practice calculating simple and compound interest by the end of this lesson.

They can plug in the numbers correctly and solve according to the variable they must find. Note how many respond with paid interest versus earned interest. Any feedback is greatly appreciated. Introduce the concept of percentage rates and the cost of borrowing money.

Ask each of them for their reasons to take it now or wait for the month to pass. 6 favorites 6th grade math 6th grade math testing the planner math 6. I 5 prt where i is the interest earned p is the principal or the amount of money that you start out with r is the annual interest rate as a decimal and t is the time in years. This one page worksheet contains 6 problems.

Kaiulani ivory akpan eliot hine middle school washington dc 11313 views. Key vocabulary lender simple interest. To solve problems involving simple interest. Plan your lesson with helpful tips from teachers like you.

Discuss when simple interest might be used i e. Work out simple interest.