Saving Success With Compound Interest Over Time 🎃
In this lesson, students will participate in a simulation and use an online interest calculator to learn about the power of compound interest, particularly over long periods of time. Students will be able to:
- Define principal, simple interest, and compound interest.
- Compare the effect of simple interest and compound interest on a savings deposit.
GRADE LEVEL
6-8
TIME REQUIRED
60 minutes
VIRTUAL-FRIENDLY?
No
NATIONAL STANDARDS FOR PERSONAL FINANCE EDUCATION
Saving
MATERIALS
Saving Success With Compound Interest Over Time
RELATED RESOURCES
Halloween-themed
Personal Finance Games