Project Overview
Student Learning Objectives
Procedure
Content Material
Assessment
Links to Course Competencies
Supplementary Resources
Recommendations

 

 
Interest Rates, FICO Scores and Loan Payments

Procedure

Time: Approximately 45 minutes

Materials: Pencil, paper, scientific calculator, and computers with internet access.

Prerequisites: This RWLO is recommended for students who have some basic understanding of simple and compound interest. They should also have an understanding of the payment formula.

Implementation: This RWLO can be done outside of class as homework or as an in-class project.   Students may discuss their procedures with other students, each student should go through each step and perform his/her own calculations. 

Steps:

  1. Review payment formula with students.
     
  2. Distribute Project Outline. If this is done completely as an in-class assignment, students will need to have access to the internet. It is recommended that the assignment be done in two parts.
     
  3. Distribute Project Worksheet.
     
  4. Assign Due Date. (Students should complete the project worksheet as an independent assignment.)
     
  5. Collect project package.