Education Technology

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Activities

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Alignment
- Standards Alignment
- Textbook Alignment
Subject Area
- Math: Precalculus: Exponential and Logarithmic Functions
Author

Texas Instruments
Level

9-12
Activity Time

45 Minutes
Device
- TI-84 Plus
- TI-84 Plus Silver Edition
- TI-84 Plus C Silver Edition
- TI-84 Plus CE
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Updated on 02/16/2015

Activity Overview

Students explore interest related to consumer loans, credit, and savings accounts.

Key Steps

In this activity, students engage in an exploration of consumer interest, both nominal and effective.

Students explore the concept of compounding and the nominal interest rate to develop an understanding of effective (annual) interest rate. Students apply this understanding in determining the actual cost to a student in obtaining an unsecured student loan.
Students use built-in features to convert between nominal and effective interest rates.