7th Grade Advanced Math Unit 10

Big Idea:

Simple and compound interest., estimating college expenses, different kinds of investments

Student Expectations:

Priority TEKS

8.12(A) [Supporting] Solve real-world problems comparing how interest rate and loan length affect the cost of credit.

8.12(G) [Supporting] Estimate the cost of two-year and four-year college education, including family contribution, and devise a periodic savings plan for accumulating the money needed to contribute to the total cost of attendance for at least the first year of college.

8.12(D) [Readiness] Calculate and compare simple interest and compound interest earnings.

Focus TEKS

8.12(B) [Supporting] Calculate the total cost of repaying a loan, including credit cards and easy access loans, under various rates of interest and over different periods using an online calculator.

8.12(C) [Supporting] Explain how small amounts of money invested regularly, including money saved for college and retirement, grow over time.

8.12(E) [Supporting] Identify and explain the advantages and disadvantages of different payment methods.

8.12(F) [Supporting] Analyze situations to determine if they represent financially responsible decisions and identify the benefits of financial responsibility and the costs of financial irresponsibility.

7.13B [Supporting] identify the components of a personal budget, including income; planned savings for college, retirement, and emergencies; taxes; and fixed and variable expenses, and calculate what percentage each category comprises of the total budget.

7.13C [Supporting] create and organize a financial assets and liabilities record and construct a net worth statement..

7.13E [Supporting] calculate and compare simple and compound interest earnings.

Ongoing TEKS

8.8(B) [Supporting] Write a corresponding real-world problem when given a one variable equation or inequality with variables on both sides of the equal sign using rational number coefficient and constants.

Learning Targets:

• Calculate simple and compound interest earnings
• Compare simple and compound interest earnings
• Calculate college expenses
• Understand savings plans

Essential Questions:

• Can you estimate the cost of a 2-year and 4-year college education?
• What is the difference between a simple or compound interest?

Extra Information:

Adopted Textbook: McGraw-Hill 8th Grade Mathematics

District Grading Policy

Texas Gateway Online Resource Center