Demonstrate the relationship between simple interest and linear growth.
Remarks
Example: Find the account balance at the end of each month for a 5 month span for $1500 @ 3 % interest based on simple interest for 1 year. Graph this scenario and explain if this is a linear or exponential problem.General Information
Subject Area: X-Mathematics (former standards - 2008)
Grade: 912
Body of Knowledge: Financial Literacy
Idea: Level 2: Basic Application of Skills & Concepts
Standard: Simple and Compound Interest - Simple and Compound Interest
Date Adopted or Revised: 09/07
Content Complexity Rating:
Level 2: Basic Application of Skills & Concepts
-
More Information
Date of Last Rating: 06/07
Status: State Board Approved - Archived
Related Courses
This benchmark is part of these courses.
1200500: Advanced Algebra with Financial Applications (Specifically in versions: 2014 - 2015 (course terminated))
7912105: Fundamental Consumer Mathematics (Specifically in versions: 2013 - 2015, 2015 - 2017 (course terminated))
Related Access Points
Alternate version of this benchmark for students with significant cognitive disabilities.
Related Resources
Vetted resources educators can use to teach the concepts and skills in this benchmark.
Student Resources
Vetted resources students can use to learn the concepts and skills in this benchmark.
Parent Resources
Vetted resources caregivers can use to help students learn the concepts and skills in this benchmark.