Students will calculate simple interest based on bank loans when purchasing a car.
This is lesson 3 in a series of 4 lessons about purchasing a car. In this lesson, students will be introduced to the topic of simple interest. Simple interest is the interest that is charged to the outstanding balance of the loan. Students will watch a fun video clip to hook the content of this lesson. They will complete a worksheet with you as guided practice to calculate simple interest. Remember the formula is I=PRT (T for time is how many months in equivalent to a year) They will follow up with your option of 4 scenarios students complete as an assessment.