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MS2-12-5 makes informed Calculations on the The definition of future Identify that the future value
decisions about financial future value or of an investment is the
situations, including annuities
value and present value,
present value and also the formula of amount to which it
and loan repayments
MS2-12-9 chooses and uses
the interest rate of a compound interest accumulates; it is the final
appropriate technology compound interest investment. value of investment.
effectively in a range of investment using the
contexts, and applies critical formula
thinking to recognise FV =PV ( 1+r )n
appropriate times and
methods for such use
MS2-12-10 uses
mathematical argument and
reasoning to evaluate
conclusions, communicating
a position clearly to others
and justifying a response
5 minutes Show more examples on finding compound Teacher: Explain the Teacher
interest earned from textbook meaning of compound
interest earned
Students required to copy down examples and
solutions Student: Write examples and
solutions on notebook
Resources: textbook
Teacher: Check student’s Students
10 minutes Students start to do questions on work sheet work individually
Teacher walk around to check student’s work
Student: do the question and
5 minutes then check answers
Work solutions are provided on Projector.
Students need to swap their work sheet to Resources: calculator and
neighbour student and check answer work sheet (Attachment 3)
and solution sheet
(Attachment 4&5)
5 minutes Students are formed into group of 5 people Teacher: Walk around in the Students
and work on questions from textbook. classroom to check students
work and answer questions
5 minutes Discuss solutions within groups Student: Work on questions
and discuss with other group
members
Resources: Textbook,
notebook and calculator
Conclusion Teacher: Summarise key Teacher
Review the definition of Future value, points and write on board
3 minutes present value and compound interest Student: Copy down key
earned. points and homework
2 minutes questions on notebook
Provide homework for students
Resources: Textbook,
notebook and pen
Reflection
What have I learned about the teaching and learning process when preparing
this lesson?
Through this lesson plan, I have learned that the terminology of mathematics
term is important for students to understand. However, teacher needs to build
up a sound understanding to students to learn the concept in simple and
understandable texts, as well as providing many examples for students to
practice.
WHS
What are the key risk issues that may appear for and need to be
reduced/eliminated in this lesson? Using your syllabus and support
documents as well as other WHS policy- Outline the key WHS considerations
that are to be applied in this lesson?
Using computers and projectors may cause fire; therefore Fire-blanket and
fire extinguisher are required for fire prevention.
First aid pack and anaphylaxis action plan
Attachment 2:
Attachment 3:
Attachment 4 &5
Part C: Assessment task 1
Assessment Instruction:
Assessment task will be hand out one week before due date, and students will be
placed into 4 groups of 5 students each.
Each group will receive different questions based on assessment task.
Students may choose variety strategies to show their work on Presentation day.
In your answers, use correct mathematical term and argument, clear working steps
to show your answer.
Assessment Marking Guidelines
HSC Mathematics Standard 2 Stage 6
Financial mathematics- Comparing loans
5 marks
Provide cleared Provide little/no Provide some Provide detailed
working steps and working steps and working steps working steps and
correct incorrect and correct correct calculation
calculations calculation calculation
5 marks
Reflection and Demonstrate Demonstrate a Demonstrate a
evaluation of the little/no reflection satisfactory critical evaluation
task and evaluation of reflection and and reflection of the
the task evaluation of the task.
5 marks task
Group work There are little/no The group The group shows
evidence showing demonstrates a good teamwork and
involvement and satisfactory team productive results
communication work in on the assessment.
3 marks with group communication
members and cooperation
Presentation There are little/no Use of Well-structure and
materials and multimedia tool to provide lots of
structures showing support their supportive material
2 marks effort on the task presentation to show their task
result
Assessment outline
Group 1
Question 1
Allen wants to borrow $14,000 and intends to repay the loan in annual
instalments over five years. He has the option of choosing a flat-rate
loan of 6% p.a. interest or a reducing-balance loan where the annual
interest is 9%.
a. How much are the equal annual instalments if Allen chooses the
flat-rate loan?
b. If Allen chooses the reducing-balance loan, the first four
instalments will be $3600. By drawing up a table, find the amount
of the final instalment.
c. With which loan will Allen pay back the least and by how much?
Group 2
Question 2
Question 3
Mary wants to borrow $16,000 and intends to repay the loan in annual
instalments over four years. She has the option of choosing a flat-rate
loan of 7% p.a. interest or a reducing – balance loan where the annual
interest is 8.5%.
a. How much are the equal annual instalments on the flat-rate
loan?
b. If Mary chooses the reducing – balance loan, the first three
instalments will be $4,900. By drawing up a table, find the
amount of the final instalment.
c. With which loan will Mary pay back the least and by how
much?
Group 4
Question 4
Question 1
a. P=$14,00, r= 0.06, n=5
I =Prn
= $14,000×0.06×5
= $4,200
Total to repay = $14,000 +$4,200
=$18,200
Each instalment=$18,200÷5
=$3,640
If Allen chooses the flat-rate loan, each instalment will be $3,640
b. P= $14,000, r= 9%, R= $3,600
Year Principal Interest P+I P+I-R
1 $14,000.00 $1,260.00 $15,260.00 $11,660.00
2 $11,660.00 $1,049.40 $12,709.40 $9,109.40
3 $9,109.40 $819.85 $9,929.25 $6,329.25
4 $6,329.25 $569.63 $6,898.88 $3,298.88
5 $3,298.88 $296.90 $3,595.78
The final instalment will be $3,595.78
c. With the flat-rate loan Allen will repay $18,200.
With the reducing – balance loan:
Total repaid = 4×$3,600 +$3,595.78
= $17,995.78
Difference = $18,200 − $17,995.78
= $204.22
Allen will pay $204.22 more with the flat-rate loan.
Question 2:
a. P = $16,000, r = 0.07, n = 4
I =Prn
Year Principle Interest P+I P+I−R
1 $16,000.00 $1,360.00 $17,360.00 $12,460.00
2 $12,460.00 $1,059.10 $13,519.10 $8,619.10
3 $8,619.10 $732.62 $9,351.72 $4,451.72
4 $4,451.72 $378.40 $4,830.12 -
=$16,000 ×0.07×4
=$4480
Total to repay = $16,000 + $4,480
= $20,480
Each instalment = $20,480 ÷4
= $5120
If Mary chooses the flat-rate loan, each instalment will be $5,120.
Question 4:
General Instructions
Reading time – 5 minutes Working time – 35 minutes
Write using black or blue pen Calculator may by used
A formula sheet is provided at the last page of exam paper
In Question 6 – 8, show all working
Total marks – 20
Section I
5 marks
Attempt Questions 1-5
Allow about 10 minutes for this section
1.
Find the amount of simple interest earned if $8000 is invested at 9% per year for eighteen
mounts.
A. $1080
B. $1104
C. $1296
D. $4960
2. Will paid $152.50 per month over four years to repay a loan of $6000. What annual
rate of simple interest was charged?
A. 2.5%
B. 5.5%
C. 11%
D. 22%
3. Freya has a credit card with up 50 days interest-free and an interest rete of 0.056%
per day. How munch simple interest will Freya pay if she has an amount of $4200
overdue for 30 days?
A. $0
B. $70.56
C. $71.14
D. $78.40
4. An amount of $70 000 is borrowed. The reducible – interest rate is 1% per month and
monthly repayments are $1004.30. How much interest will be paid in the second
month?
A. $700
B. $689.96
C. $696.96
D. $679.91
15 marks
Attempt Questions 6-8
Allow about 25 minutes for this section
6. Penny borrows $8400 for a holiday. She agrees to repay the loan over four years with
equal monthly payments of $225.40.
i. How munch does Penny repay in total? 2
ii. How much interest dose she paid? 1
iii. What is the annual rate of simple interest charged? 2
7. The following repayment table shows the amounts for the first three months of a loan.
Month Principle Interest P+I P+I - R
1 $90 000.00 $675.00 $90 675.00 $89 650.77
2 $89 650.77 $672.38 $90 323.15 $89 298.92
3 $89 298.92 $669.74 $89 968.66 $88 944.43
4
i. What is the amount of each repayment? 2
ii. How can we easily tell that the interest charged in a reducible rate and not a
flat rate? 1
iii. Complete the next row of the table. 4
8. Kyle receives the following credit card statement. His card offers up to 50 days
interest-free and a simple interest rate of 16.9725% charged daily.
Date Details Amount Total
1 June Balance $0.00 $0.00
9 June Insurance $936.00 $936.00
23 June Clothes $419.00 $1355.00
Amount due: $1355.00 Due Date: 8 July
i. How much interest will be charged if the bill is paid by the due date? 1
ii. Kyle pays the minimum amounts of $25 on the due date. If he makes no
further purchases, how much will he need to pay on 8 August to clear the
debt? 3
Formulae Sheet
Simple Interest
I=Prn
P is initial amount
r is interest rate per period, expressed as a decimal
n is number of periods
Compound Interest
A=P ( 1+r )n
A is final amount
P is initial amount
r is interest rate per period, expressed as a decimal
n is number of compounding periods
FV
PV = FV =PV ( 1+r )n
(1+ r )n
Question Answer
1 A
2 B
3 B
4 C
5 B
Section II
6 (i)
Criteria Marks
Demonstrate all workings and provide the 2
correct answer
Demonstrate all workings but with incorrect 1
answer
Sample answer:
Total repay = $225.40×12×4
= $10 819.20
6 (ii)
Criteria Marks
Demonstrate working and correct answer 1
Sample answer:
Interest = $10 819.20 − $8400
= $2419.20
6 (iii)
Criteria Marks
Demonstrate all working and provide correct 2
answer
Provide little/no working and correct answer 1
Sample answer:
Interest per year = $2419.20÷4
=$604.80
604.80
Interest rate = ×100
8400
=7.2%
7 (i)
Criteria Marks
Demonstrate all working and provide correct
answer 2
Provide little/no working and correct answer
1
Sample answer:
Repayment= $90 675 − $89 650.77
= $1024.23
7 (ii)
Criteria Marks
Recognise the interest is reducing and 1
explained it.
Sample answer: The interest is not the same each month. It is reducing.
7 (iii)
Criteria Marks
Demonstrate all possible working and provide correct 4
answer
Sample answer:
675
Interest rate = ×100
90 000
= 0.75%
4th month: P = $88 944.43
I =0.0075×$88 944.43
=$667.08 (nearest cent)
P + I =$88 944.43 + $667.08
=$89 611.51
P +I – R= $89 611.51 − $1024.23
=$88 587.28
Numbers in last row of table are:
$88 $667.08 $89 611.51 $88 587.28
944.43
8 (i)
Criteria Marks
Recognise no interest will be charged 1
Sample answer: If the bill is paid by the due date, no interest will be charged.
8 (ii)
Criteria Marks
Demonstrate Interest formula and all possible
working with correct answer 3
Sample Answer:
References:
The unit ‘Investments and Loans’ is one of the topics from Financial Mathematics
theme, HSC Mathematics standard 2 year 12 syllabus. This unit is designed for
response regrading to different circumstances. The lessons are well planned under
the instruction of the Quality Teaching model to achieve the outcomes from NSW
Mathematics term and key learning area to enable deep knowledge and
understanding. Introducing some key concepts in each lesson can generate high
thinking and to correspond applicably about what they are learning. The unit is
and advancing in extent. There are two main topis in this unit, first is investment
and second is depreciation and loans, each topic will have four lessons mainly
formula. During content focusing lesson, teacher is the centre facilitator to instruct
students learning. There will be two lessons on revision, one is held before the in-
example questions; the other revision lesson is scheduled as the last lesson of this
unit, the purpose is summarised all key concepts that students have learn through
this unit and provide HSC exam sample questions. There are also two lessons for
understanding.
The lessons are scheduled in scaffolding way based on problem solving
learning and inquiry learning. Hmelo-Silver, Duncan & Chinn (2007) points out
that scaffolding can be used to structure complex task and reduced cognitive
load. Teacher play a significant role in the classroom, he/she needs to monitor
classroom can reduce cognitive load by arranging a task in ways that allow
the students to concentrate on aspects of the task that are relevant to the
learning goals. In the lesson plan, the main concept is introduced at the
beginning of the class, and this is the central idea for this lesson, all other
activities are based on this aspect. During this lesson, teacher demonstrates
gathered information and aspects from the PowerPoint; at stage two, students
understanding. Since this lesson is the first lesson of the unit, there is no
strategy such as group activity and discussion is a best way for teacher to
students to show all workings and justify their answers. This formative
assessment task is used for learning, which reflects students advantages and
learning processes. For example, the learning goal for this assessment task
and the strategy that used to achieve goal. The second assessment task is
task, students are required to work problems on comparing loans. This task is
mainly to test students’ team cooperation and communication skills. They are
required to demonstrate final result in front of class and justify their answers.
Through this task, students can build up connections with their peers; teacher
may use this opportunity to self-assess the teaching method, so that teacher