| ||||
|
|
||||
 |
|
|
|
|
 |
|
|
Lesson plan: Students invest in future
Editor's note: If you are planning to use the CNNfyi.com article this lesson plan is based on for a homework assignment, please write the URL on the board and have your students copy it. CNNfyi.com updates the site in the early evening, so students may have difficulty finding it without the URL. You can find the lesson plan by going to the Subject Areas page and clicking PREVIOUS in the square for Today's Lesson Plan. Objectives Students will be able to:
Standards
BOCES Educational Standards High school students should be able to solve equations and inequalities using graphing calculators and computers as well as appropriate paper and pencil techniques. Materials
CNNfyi.com article, "Salvation in savings" Suggested time One to two class periods Procedures 1. Ask your students, "Could an 11-year-old turn $600 into nearly $500,000 by the age of 45?" 2. Have students read the CNNfyi.com article "Salvation in savings." Then ask:
3. Explain the significance of the following comment by consumer advocate Clark Howard: "Every dollar that they don't borrow now is a dollar they don't have to pay later," adding that many times one must also pay interest on the money one owes. 4. Review with students how to calculate percentages using decimals. 5. Have students complete the HighWired.com work sheet, "Calculating interest." 6. Use the Web sites below and assign different banks in Scotland to each student in the class. Have students compute how much they would save over 30 years if they began with an initial investment of $900 and added $40 monthly. 7. Have students share the data with the class.
8. Have a class discussion about which investor makes the most money and why. Assessment Have students develop a savings plan for a 14-year-old. They need to consider how much money is realistically accessible to teens. They might also want to first characterize their 14-year-old, determining the teen's town and talents, access to jobs, need for money in the present and savings goals determined by his or her aspirations after high school. Accommodation Logical/mathematical: Have students compute how much money they would have after five years if they began with $900 and earned 3 1/2 percent interest. Then compute the amount of a $900 investment at an interest rate of 2 percent after 12 years. Which is the better investment? Why? Challenges Have students develop a bank that would offer competitive rates with other banks in Scotland. The students would need to determine what interest rates would be offered on both a savings account and a checking account. Also, they would need to determine the finance charge on the use of a credit card. Finally, have the students create an advertisement for their bank. RELATED SITES: College Savings Plans Network |
|
| ||||||||||
