Simple and compound interest with Year 9

Looking forward to trying this one tomorrow! Looks like a cracker to me to introduce the idea of simple and compound interest in my year 9 maths class…

Although this one is based on the simple compound interest formula, I think it’s helpful enough to introduce both concepts at the start to help them see a difference.

EDIT: It was great! Kids had all sorts of guesses – the most ‘extreme’ was 1 billion, classic. Wish I captured their responses that they thought were ‘too low’, ‘too high’ or what they actually thought it was. Classic when they saw the answer!

Tomorrow I might reinforce it with this nice YouTube comparison of simple v. compound interest using skittles:

Here is an additional resource that I came across via Twitter thanks to Robert Kaplinsky. I haven’t tried this yet in the classroom but has an Austin Power’s video / guesses etc. too based around compound interest.

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