Here’s a simple lesson plan to teach elementary students the concept of earning or paying interest. Kids love learning about money and this plan covers the purpose of interest for the saver, the borrower, and the bank. After the basic information is introduced, challenge your students with figuring out which bank will earn them the most interest based not only on percentages, but also whether there is an expense for getting to the bank. This is a great real-life situation problem that asks students to consider more than one variable in the economics lesson.
courtesy of Knovation