Calculating Simple Interest

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Students will calculate simple interest based on bank loans when purchasing a car.

Introduction

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.  

Lesson Times

1 class period (50 minutes)
50 Minutes

Industries / Subjects / Grades

Industries / Pathways
  • Education, Child Development, and Family Services Education, Child Development, and Family Services
    • Consumer Services
Grade Levels
  • 10
  • 11
  • 12
  • Adult

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