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Understanding compound interest

Students understand the impact of compound interest and apply it to saving scenarios.

Additional details
Year level(s)	Year 9, Year 10
Audience	Teacher
Purpose	Teaching resource
Format	Downloadable resources
Teaching strategies and pedagogical approaches	Mathematics investigation
Keywords	interest, compounding interest, banking, linear, quadratic, exponential models
Curriculum alignment
Curriculum connections	English, HASS
Strand and focus	Number, Measurement
Topics	Mathematical modelling, Money and financial mathematics
AC: Mathematics (V9.0) content descriptions	AC9M9N01 Recognise that the real number system includes the rational numbers and the irrational numbers, and solve problems involving real numbers using digital tools AC9M9M04 Calculate and interpret absolute, relative and percentage errors in measurements, recognising that all measurements are estimates AC9M10M04 Identify the impact of measurement errors on the accuracy of results in practical contexts
Numeracy progression	Proportional thinking (P6) Multiplicative strategies (P8) Number patterns and algebraic thinking (P9) Understanding units of measurement (P10)
Copyright details
Organisation	ASIC
Copyright	© ASIC. Creative Commons BY-NC-SA 3.0 AU.