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

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

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.

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.

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.

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 ...

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.

Text

Mrs Sim's Dollars and Sense - Calculate

This alternate assessment task focuses on calculating gross and net wages before and after tax; operating and solving problems using simple and compound interest; and making valid comparisons between total accumulated costs and the initial (principal) amounts of money borrowed or invested.

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The Mathematics of Projectiles - Calculate

This activity provides a practical introduction to the motion of projectiles with a focus on angles. It is designed as a lead in to parabolic and quadratic functions.

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Linear Relationships (and how Maths can help you choose a great car) - Calculate

The activity has students collecting their own information from a well-known Australia car buying website and using this to find an estimated relationship between the ‘asking price’ for a used car and the distance it has traveled in kilometres.

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Compound Interest - Calculate

This resources demonstrates simple and compound interest and includes an activity sheet for students with questions about the differences in calculations and cumulative interest over time.

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Factorising Quadratics and Solving - Calculate

This activity explores the properties of the family of functions and their graphs known as parabolas. The unit includes an AMSI Interactive online module, a range of other AMSI Schools and external links and video tutorials and some extension or enrichment ideas to take their understanding further. A short quiz at the end ...

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Solving Linear Equations - Calculate

This unit of work focuses on solving linear equations. It includes an AMSI Interactive online module, a range of other AMSI Schools and external links and video tutorials and some extension or enrichment ideas. A short quiz at the end of the AMSI Interactive will help students to test their understanding at the completion ...

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Work sample Year 10 Mathematics: Mathematics assignment

This work sample demonstrates evidence of student learning in relation to aspects of the achievement standards for Year 10 Mathematics. The primary purpose for the work sample is to demonstrate the standard, so the focus is on what is evident in the sample not how it was created. The sample is an authentic representation ...

Downloadable

What’s the cost?

This lesson explores gambling losses by comparing losses to other average household purchases. Students then explore how this money could be more profitably invested in a compound interest scheme over time. Finally, students are asked to critically reflect on the true social and financial cost of gambling and to consider ...

Online

Mathematical modelling (Algebra): Year 10 – planning tool

This planning resource for Year 10 is for the topic of Mathematical modelling. Students apply linear, quadratic and exponential functions to modelling contexts and outline reasons for selecting a particular model. They use tables of values to look for patterns in data, recognising that linear functions have constant first ...

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.