Mathematics / Year 10 / Number and Algebra / Money and financial mathematics

View on Australian Curriculum website Australian Curriculum, Assessment and Reporting Authority
Curriculum content descriptions

Connect the compound interest formula to repeated applications of simple interest using appropriate digital technologies (ACMNA229)

Elaborations
  • working with authentic information, data and interest rates to calculate compound interest and solve related problems
General capabilities
  • Numeracy Numeracy
  • ICT capability Information and Communication Technology (ICT) capability
ScOT terms

Compound interest

Video

BTN: Bank loans

When we need to buy a house we usually have to take out a loan from the bank. We have to pay back that loan with interest. A $350,000 loan can mean paying back $869,000! Listen to Nathan Bazley explain why a small change in interest rates can mean a big difference to the total amount you repay. This clip provides a context ...

Video

My Five Cents: What is compound interest?

Compound interest will be one of the most important things you ever learn. Don't believe it? Gen Fricker will explain why. Learn how compound interest works, and why saving now can help you later. Game changer! Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.

Video

How do interest rates work?

What are interest rates? What determines the interest rates in Australia? And how do interest rates affect the economy? Listen as Dr Ashton de Silva explains.

Interactive

Laptop wrap: Investing wisely

In this laptop-friendly resource, students investigate unit pricing and explore the formulae and concepts of simple and compound interest.

Online

TIMES Module 22: Number and Algebra: consumer arithmetic - teacher guide

This is a 23-page guide for teachers, providing an introduction to the financial mathematics component of the number and algebra strands for years 9 and 10. A brief history of the concept of money concludes the module.

Online

MoneySmart: Reaching goals: What's involved?

This unit of work students learn about financial planning through the characters Cathy and Dinuka who are Year 10 students planning to go on a holiday together at the end of Year 12. Students learn about goal setting, saving, borrowing, investing, working with compound interest, good and bad credit, depreciation and inflation.

Online

TIMES Module 31: Number and Algebra: indices and logarithms - teacher guide

This is a 26-page guide for teachers. It extends the study of indices to rational indices and introduces logarithms.