"When am I ever going to use this?"
Sound familiar? Here's something that may provide an answer to one of the most famous questions asked by math students. This mini unit on financial literacy teaches students how to use the math they learned in high school to manage their personal finances. Topics include saving for retirement, defining and calculating compound interest, how loans and debts work, what a mortgage is, and how to make your very own mortgage calculator.
Students will probably need grade 12 math before they can handle some of the topics studied in this unit. They will need to have studied geometric series, exponential functions, logarithmic functions, and of course a solid understanding of algebra.
If your curriculum requires the study of financial literacy then this is a great resource to use. You could also use it as a bonus unit if your curriculum does not require it because let's be honest, knowing how to do these calculations as an adult can be a huge financial advantage.
The first 27 pages are the teacher's guide with answers provided in red. Pages 28-49 are basically the same thing but without answers so these would be good to print and handout to students if you want them to take notes. The unit is divided into 3 sections and each section has a homework assignment at the end to assess understanding. Many of the problems in the homework assignments are real life financial problems that students may face when they become adults. There is also an appendix at the end which gives a step by step guide for how to create your very own mortgage calculator in Microsoft Excel.
I hope you find this resource beneficial. Any feedback would be greatly appreciated. Thanks!
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