Lesson Plan

The Million Dollar Problem

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This The Million Dollar Problem lesson plan also includes:

Who wouldn't want to be a millionaire? The 34th installment of a 35-part module prompts young economists to calculate the monthly payments necessary to save a million dollars by age 40. As with car loans, annuity payments, and mortgages, geometric series play a significant role in this calculation.

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CCSS: Designed
Additional Tags
Instructional Ideas
  • Invite a financial advisor as a guest speaker
  • Team up with the business/economics teacher
Classroom Considerations
  • Internet access is necessary if using an online amortization calculator; this is not required, but it reduces the computation load on pupils
Pros
  • Resource includes links to relevant websites
  • Learners will appreciate the practical advice on accumulating wealth
Cons
  • None