Day 12 - Annuities Exploration Day 2

Today students continued to work on the annuities exploration that they started yesterday. We had a good teachable moment because the definition for "annuity" that Google gives is not a very good one and so today I spent more time trying to explain to students why it isn't a good definition. It is a good instance of students seeing an "answer" online that isn't actually correct. Hopefully they will think more critically in the future!

I explained to students that their answers should have detail, that I should be able to read the answers aloud to students in a different class and they should be able to understand the answer. I don't have a full complement of iPads today, so I realized that I could not use Explain Everything today. I will collect this work, but not mark it. I think what I might do, is get them next week to use what they have learned to make a video explaining annuities and mortgages. That might get what I wanted out of it while being able to move on for now.

Tomorrow I will not be there but students will have a supply teacher. They will be working on conditions of annuities:

They have a filled in version of the lesson that they will read through and then they will work through the homework:

I will, on Monday, talk to students about the big picture questions that relate to this topic:

1. If you are investing, what would you look for in the conditions of your investment? (i.e. interest rate, compounding frequency, length of time of the investment etc.)

2. If you are borrowing, what would you look for in the conditions of the loan? (i.e. interest rate, compounding frequency, payment frequency, length of time of the loan etc.)

3. When you go to a bank, the amount of money that they say you can borrow may be really high. Is it a good idea to use the maximum? Why or why not? What would they be basing their decision on? What do you need to think about when you go to buy a house?

I will not be writing tomorrow so have a good weekend readers!