Lesson 6 -
Introduction
Watch the video below for an introduction to the lesson.
Activity 1 - Simple vs compound interest
Task 1
Watch the video, The difference between Simple and Compound Interest.
In your exercise book or folder, write out the example as you follow along with the video.
The difference between Simple and Compound Interest
Duration 8:53
Task 2
Practice building a compound interest table using the Geogebra applet.
Open the applet in a new tab by clicking on the image.
Complete as many problems as you need until you feel comfortable with the process.
Use the Reset button to generate new problems.
Activity 2 - Compound interest
Task 1
Watch the video, Developing the Compound Interest Formula.
In your exercise book or folder, write out the compound interest formula indicating what each letter stands for.
Developing the Compound Interest Formula
Duration 11:07
Task 2
Watch the video, How to use the Compound Interest Formula (easy example).
In your exercise book or folder, write out the example as you follow along with the video.
How to use the Compound Interest Formula (easy example)
Duration 1:50
Task 3
Practice calculating compound interest with the formula using the Geogebra applet.
Open the applet in a new tab by clicking on the image.
Complete as many problems as you need until you feel comfortable with the process.
Use the Reset button to generate new problems.
Activity 3 - Changing the time period
Task 1
Watch the video, Compound Interest (2 of 2: Example questions).
In your exercise book or folder, write out the example as you follow along with the video.
Compound Interest (2 of 2: Example questions)
Duration 9:45
Task 2
Practice calculating compound interest with different time periods using the Geogebra applet.
Open the applet in a new tab by clicking on the image.
Complete as many problems as you need until you feel comfortable with the process.
Use the Reset button to generate new problems.
Activities too easy?
Visit the Interest page on Transum.org and try to complete Levels 4 and 5.
Handing in your work
Don't forget to hand in the work you completed today!
Your teacher will have told you to do one of the following:
Upload any digital documents you created and any photos you took of your written work to your Learning Management system (MS Teams, Google Classroom for example).
Email any digital documents you created and any photos you took of your written work to your teacher.
Make sure you keep any hand written work you did in your exercise book or folder as your teacher may need to see these when you are back in class.