COMPOUND INTEREST Since this section involves what can happen to your money, it should be of INTEREST to you!

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Presentation transcript:

COMPOUND INTEREST Since this section involves what can happen to your money, it should be of INTEREST to you!

Check and discuss students’ homework on simple interest STARTER

To be able to calculate compound interest. OBJECTIVE

COMPOUND INTEREST KEY WORD

COMPOUND INTEREST FORMULA amount at the end Principal (amount at start) annual interest rate (as a decimal) time (in years) number of times per year that interest in compounded

(2) Find the amount that results from $500 invested at 8% compounded quarterly after a period of 2 years.

The teacher goes through selected examples on the following pages of the iBook: Pages Examples from the iBook

Struggling students watch video on compound interest – page 90 of the iBook. Meanwhile, advanced students can proceed with classwork 1. Watch videos from the iBook

G11 Maths Website WEEK 4 – CLASSWORK 1 COMPOUND INTEREST Show an organized solution on your maths notebook. CLASS WORK 1 SIMPLE INTEREST Pair Work

G11 Maths Website - Online worksheet: compound-interest-worksheet.html Show an organized solution on your maths notebook. CLASS WORK 2 COMPOUND INTEREST Individual Activity

G11 Maths iBook Page 91, #’s 4, 5, and 6 Show an organized solution on your maths notebook. HOMEWORK

G11 Maths iBook Page 91, #’s 1, 2, and 3 Show an organized solution on your maths notebook. EXTENSION ACTIVITY

What is the formula for compound interest? PLENARY

THANK YOU!