The Compound Interest Calculator visually shows the dramatic effect that compounding can have on investments. Adjust the monthly savings, interest rate, and starting age to see how money grows over time.
LESSONS THAT USE THIS INTERACTIVE TOOL
The students will see how compounding returns make investing at a young age pay off.
OTHER RELATED LESSONS
Consumers are faced with tough choices because so many innovative and exciting products and services are available. Therefore, engraining a decision-making process that includes considering of opportunity cost is necessary to shape future consumer behavior.
How to amortize a loan using an Excel spreadsheet.
How do banks calculate the amount of interest paid on a loan? In this lesson, students will view a Livescribe Pencast to learn how to find the dollar amount in interest that is due at maturity. This lesson uses different time periods such as days, months, and years in the calculation as well as...
Grades 6-8, 9-12
To get started, the students will read Lyddie, a novel by Katherine Paterson. The novel is set mainly in Lowell, Massachusetts, in the 1840s. In Lowell the main character, 13-year-old Lyddie Worthen, works six days a week, from dawn until dusk, running weaving looms in a murky dust-and lintfill...
Building on the first two lessons in the series, this lesson deals with savings and interest.