Math Monday: Solving Equations and Loans
Solving equations is a high-leverage math skill that can take a lot of practice for students. In today’s Math Monday, we’ll cover one more activity for you to have ready the next time you need to review solving equations.
In MATH: Loan Repayments Using Simple Interest, students practice identifying key values from word problems, substituting those values into equations, and solving for a variable.
In the Edpuzzle video, Abby breaks down how to calculate the cost of buying a laptop using a credit card and paying it off over 6 months.
The practice problems build in complexity, from calculating the total interest paid to calculating the interest rate and time frame, which requires solving for a variable. Finally, students reflect on how interest rates impact the cost of their purchases.
Building Engagement and Conceptual Understanding:
- Equality Explorer by PhET
- Smallest Solution by Desmos
- Evaluate Expressions Games by Legends of Learning
- Solving Multi-Step Equations by Jeopardy Labs
Extend the Personal Finance Learning: If you’re a math teacher, consider using these resources to further explore loans and managing credit.
- MATH: Compound Interest Pitfalls by NGPF
- INTERACTIVE: Shady Sam by NGPF
- DATA CRUNCH: What Interest Rate Do Consumers Pay on Their Credit Cards? by NGPF
- Question of the Day: What percent of Americans don’t pay their credit card bill in full each month? by NGPF
- PROJECT: Create a PSA or Ad for Predatory Lending by NGPF