In this Core Maths resource students are asked to evaluate the offers and figures from three banks in order to decide which one is best for their company to borrow from. The resource involves students calculating the interest incurred using an Excel spreadsheet.
Borrowing money: Lesson Plan
This lesson plan contains warm-up suggestions, details of the activity, suggested scaffolding and suggested extension tasks.
Borrowing money: Student template
This excel spreadsheet contains a blank template in which students can calculate the interest generated by the three bank offers over the course of twelve years.
Borrowing money: Answers
This Excel spreadsheet contains a complete solution to the task over the period of twelve years.