Mathematics essentials 10 Banking
Specific Curriculum Outcomes
A5 understand transactions such as depositing, transferring and withdrawing money, writing cheques and withdrawing money
A6 understand how interest is calculated by a bank
B11 calculate simple and compound interest
C1 recognize patterns in tables where simple interest has been calculated
A5 understand transactions such as depositing, transferring and withdrawing money, writing cheques and withdrawing money
A6 understand how interest is calculated by a bank
B11 calculate simple and compound interest
C1 recognize patterns in tables where simple interest has been calculated
Activities
- A Simple Math Formula Is Basically Responsible For All Of Modern Civilization - An article from Business Insider about the history of interest, its power and how it has changed the world. Plus there is a video clip from Furturama!.
- Making Money with Benjamin Franklin from Math Central and OPTIMISM: Ben Franklin and the 200 Year Endowments from Eddie Thompson - The story of Ben Franklin's bequest to Boston and Philadelphia is an inspiring story of philanthropy as well as an example of the enormous power of compound interest.