Learning Resource Type

Classroom Resource

A Penny Saved Is a Penny Earned...With Interest

Subject Area

Mathematics

Grade(s)

7

Overview

In this economics and personal finance lesson plan, students will make decisions about saving and spending. Students will practice calculating interest and creating a budget to practice their mathematics and financial literacy skills. 

    Mathematics (2019) Grade(s): 7

    MA19.7.3

    Solve multi-step percent problems in context using proportional reasoning, including simple interest, tax, gratuities, commissions, fees, markups and markdowns, percent increase, and percent decrease.

    Unpacked Content

    UP:MA19.7.3

    Vocabulary

    • Proportion
    • Simple interest
    • Tax
    • Gratuities
    • Commissions
    • Fees
    • Markups and markdowns
    • percent increase and percent decrease

    Knowledge

    Students know:
    • how to interpret a real-world problem to determine what is being asked.
    • Techniques for calculating and using percents to solve problems in context.
    • how to interpret the solution in the context of the problem.

    Skills

    Students are able to:
    • Write and solve proportions to help them solve real-world problems involving percent.
    • Solve problems that require them to calculate: simple interest, tax, gratuities, commission, fees, mark ups, markdowns, percent increase and percent decrease.

    Understanding

    Students understand that:
    • percents relate to real-world contexts, and how to determine the reasonableness of their answers based on that context.
    Link to Resource

    CR Resource Type

    Lesson/Unit Plan

    Resource Provider

    EconEdLink
    Accessibility
    License
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