Standard(s):SSEPF 4 a. Compare interest rates on loans and credit cards from different institutions including banks, credit unions, pay-day loan facilities, and title-pawn companies. b. Define annual percentage rate and describe how different interest rates can affect monthlypayments on loans. c. Use an online amortization tool to show how payments on a fixed loan like a mortgageare applied to interest and principal.
LT:I will calculate compound interest and use it to identify total amounts for loans.
SC:I can compare simple and compound interest I can calculate total interest on a loan I can calculate the total amount as the principal plus the interest.
Lesson/Activity:PPT over Personal Finance- Investments and interest rates Resources: Investment Activities |