Financial Literacy

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Financial Literacy

Tammy Gubbels
My specialty is math. I often have students say they will never use this stuff when they are older. I always use that opportunity to through out a real life example of obtaining a loan to buy a car, for instance.  If you need to borrow $10,000 to buy the car, would it be cheaper to get a 5 year loan at 8% interest or a 7 year loan at 6% interest. We take a poll as to which one they believe to be cheaper and ask the reason why they believe this. Then we work out the compound interest problem for each to determine which one is truly cheaper.  This is mainly for high school students.