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## Lesson Plan

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This lesson provided by:
 Author: Samantha Mayweather System: Montgomery County School: Montgomery County Board Of Education

General Lesson Information
 Lesson Plan ID: 33104 Title: On the Mark, Get Set, EXCEL!!! It’s Time to Buy a NewCar! Overview/Annotation: Students will learn about loans and how to calculate the monthly payment on a major purchase such as a car loan, home loan, or school loan. In a spreadsheet students will learn how to calculate monthly payments using the PMT (Payment) function.This is a College- and Career-Ready Standards showcase lesson plan.

Associated Standards and Objectives
Content Standard(s):
 BMA (9-12) Business Technology Applications 6. Utilize spreadsheet features, including formulas, functions, sorting, and filtering data, templates, charts, and graphs in creating, editing, and printing workbooks. BMA (9-12) Business Technology Applications 23. Critique various ways to become financially literate, including identifying credit card use and misuse; explaining ways to avoid identity theft; identifying reasons for budgeting, saving, and investing; comparing rates of interest as they relate to various time frames in the repayment of loans; and determining how debt influences future employment and purchases.

Local/National Standards:

Primary Learning Objective(s):

Students will be able to:

• Define the terminology associated with a loan
• Calculate the monthly payment for a loan
• Determine which factors adversely affect their monthly payment
• Resolve how to pay less interest on a loan

Additional Learning Objective(s):

Preparation Information
 Total Duration: 61 to 90 Minutes Materials and Resources: Student/Teacher Handouts Attached Technology Resources Needed: Computer with Internet access, Spreadsheet Software, teacher demonstrations with interactive whiteboard. Background/Preparation:

Procedures/Activities:
 This lesson should follow an indepth discussion about installment loans. Students should be able to define the vocabulary for this lesson and understand the determining factors to compute the monthly payment on an installment loan. Please see the (Student Teacher Installment Loan) attachment, (PMT Function) attachment, and (Performance-Based Assessment Dream Car Instructions) attachment.

 Attachments:**Some files will display in a new window. Others will prompt you to download. PerformanceBasedLessonDreamCarExample.pdf Student_TeacherInstallmentLoanVocabulary.pdf PerformanceBasedAssessmentDreamCarInstructions.pdf PerformanceBasedLessonDreamCarRubric.pdf PMTFunction.pdf

Assessment
 Assessment Strategies Formative assessment with the vocabulary while students are engaged in a discussion. Project-based assessment for students to purchase their “Dream Car”.

 Acceleration: Students can use this to purchase a new home that is \$250,000 or less. Students can also finance a 4-year degree at a university of their choice and a 2-year degree at a community college and discuss the pros and cons of receiving a 4-year degree vs. a 2-year degree. They must include the cost of college in their discussion. Intervention: Students may need to review the vocabulary.Students will need to find the principal of 4 different cars to get a concrete understanding.Students will need to calculate the term for a 4-year, 5-year, 6-year, 8-year, and 12-year loan.(4x12)  (5x12)  (6x12)  (8x12)  (12x12)Explain to students good interest rates vs. bad interest rates. Students will need to know how people get good interest rates (good credit). A great analogy would be a student who receives an “A” vs. a student who receives an “F”. Why is a student that receives an “A” vs. one that receives an “F” more credible?
 Each area below is a direct link to general teaching strategies/classroom accommodations for students with identified learning and/or behavior problems such as: reading or math performance below grade level; test or classroom assignments/quizzes at a failing level; failure to complete assignments independently; difficulty with short-term memory, abstract concepts, staying on task, or following directions; poor peer interaction or temper tantrums, and other learning or behavior problems. Presentation of Material Environment Time Demands Materials Attention Using Groups and Peers Assisting the Reluctant Starter Dealing with Inappropriate Behavior Be sure to check the student's IEP for specific accommodations.