Compound Interest
Objective
Students will be able to use repeated calculations and a recursive method to find the value of a bank account with a certain annual interest rate compounded more than once per year. Students will begin to develop a formula to find the value of this account after a certain number of years.
Big Idea
Develop the compound interest formula using scaffolds and prior knowledge about how to create exponential functions from data tables.
Warm-Up
30 minutes
Investigation and New Learning
45 minutes
Sharing and Closing
10 minutes