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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.
Primary Learning Objective(s):
Students will be able to:
Additional Learning Objective(s):
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.
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.
Formative assessment with the vocabulary while students are engaged in a discussion. Project-based assessment for students to purchase their “Dream Car”.
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.
Each area below is a direct link to general teaching strategies/classroom
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.