Students will use their knowledge of rational numbers to calculate simple and compound interest earnings. Students will then compare the earnings based on simple interest and compound interest. It is the district's decision whether compound interest is compounded annually or for other time frames such as 6 months, 2 years, 5 years, etc.
7.13 Personal financial literacy. The student applies mathematical process standards to develop an economic way of thinking and problem solving useful in one's life as a knowledgeable consumer and investor. The student is expected to:
(E) calculate and compare simple interest and compound interest earnings