Simple & Compound Interest (Grade 8)
Overall
Understanding simple and compound interest helps one make financial decisions when saving and budgeting for big expenses.
Specific
Determine the growth of simple and compound interest at various rates using digital tools, and explain the impact interest has on long-term financial planning (Ontario Curriculum).
Learning Objectives
To calculate compound and simple interest to solve problems.
Students are assigned to watch the Binogi videos on Simple & Compound Interest a prior to the lesson (Make sure students have an access to internet). Then, they record at least 1 question and 1 interesting/surprising fact they learned from the video to share with the class Padlet or Scrumblr.
Students can use the Concept Detective table to understand new concepts they are learning. They may include a description in English or a language of their choice. They can draw a picture or add an image to explain the meaning of one of the concepts they learned.
Simple Interest Vocabulary
The following bilingual and add your language glossary sheets include terms from Binogi’s Simple Interest videos.
Simple Interest (Arabic)
Simple Interest (Bengali)
Simple Interest (Mandarin)
Simple Interest (Urdu)
Compound Interest Vocabulary
The following bilingual and add your language glossary sheets include terms from Binogi’s Compound Interest videos.
Compound Interest (English/Add a Language)
Compound Interest (Mandarin)
Compound Interest (Urdu)
