🎃 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 Lessons

Personal Finance Games