Saving Money in Plain English

Wednesday, 07 January 2009 | 2 Comments

This video from The Common Craft Show is an excellent “introduction to the magic of compound interest and how it helps money grow over time”. Keep an eye out for more videos in their financial basics series.

This video does use terminology different to what we use in Australia (the video uses APY, Annual Percentage Yield, whereas we would call it the annual interest rate or interest rate per year). Despite that, I will definitely be using this as a supplement to my normal introduction to compound interest with Year 10.

Posted in • Lesson Idea • Consumer Arithmetic • Video | Short URL: http://mths.co/1323

Comments

Charlie Scott on 26 June 09 at 12:31 PM #

It strikes me that a lot of these sites are great! However, with wi-fi access limited, and the cost (eg this one $20 if I download) then even suggesting this site is ridiculous. Are you aware of copyright?

author

Simon Job on 26 June 09 at 12:45 PM #

Charlie, not sure why you are, just now, commenting on something I wrote about nearly 6 months ago, but anyway. My classroom has a LAN connection, so no problem with internet access. Furthermore, our school system is currently having wireless internet rolled out throughout schools. Yes, there is a cost. Whilst teachers could pay this, the Common Craft Show offers a discount for school systems – I’ve chased trying to get my school system to get a license.

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Simon Job — eleventh year of teaching maths in a public high school in Western Sydney, Australia.
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