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7th Grade Math, Percents, Simple Interest

Author: Beata Spillman

Beata Spillman
7th Grade Math
Percents
Simple Interest

Who offers me a better deal?

Who wants to work in a bank in the future?
(We are having a discussion about banking, investment, Wall Street etc.)

Students volunteer: Jason and Anna

Jason is walking on the street 5 years from now and sees me. He says: Ms. Spillman, I have a great deal for you! Give me $100 and I’ll invest it for you in my bank. I will give you a 10% rate for 6 years.

100 x 0.1 x 6 = 60

Making $60 in 6 years. (Hm…not bad…)

Anna is walking down the street and see me while I’m trying to make up my mind about investing my $100 with Jason. She says: Ms. Spillman, give me $100 and I’ll invest it for you in my bank for 3 years at 15%.

100 x 1.15 x 3 = 45

Making $45 in 3 years. (This seems good too)

Who is offering me a better deal?

Students discuss the issue. I tell them that if they convince me to go with one of the banks, they will receive extra points on their test. They come up with a lot of amazing reasons.

At the end, they learn that there was not one correct answer. It was a Socratic Seminar in math.

DMU Timestamp: December 17, 2021 06:06





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