Notes:
This CLA is missing the attachments referred to at the end of the template. As such this is just an idea with no student activities or teacher lesson plans to support.
Additionally the following sections of the template need to be addressed:
o Assessment and Evaluation of Student Achievement is blank o Under what “What do we want students to learn?” for overall and
specific learning goals the statements should be in student-friendly language rather than a restatement of the expectations.
Contextualized Learning Activities (CLAs)
For the “other required credits” in the bundle of credits, students in a Specialist High Skills Major program must complete learning activities that are contextualized to the knowledge and skills relevant to the economic sector of the SHSM. Contextualized learning activities (CLAs) address curriculum expectations in these courses.
This CLA has been created by teachers for teachers.
It has not undergone an approval process by the Ministry of Education. Contact Information
Board Toronto District School Board
Development date September 22, 2012November 7, 2011
Contact person
Trevor Bullen Teresa Bellomo Wayne Erdman
Position
Curriculum Leader, Business Studies Business Teacher
Curriculum Leader, Mathematics & Computer Studies
Phone 416-393-0230 X20105 Fax 416-393-0231 E-mail [email protected] [email protected] [email protected]
Course code and course title MCR3U Functions
Name of contextualized
learning activity/activities Culminating Personal Finance Project Brief description of
contextualized learning activity/activities
Students will investigate the costs of investing their money in annuity-related instruments. There will be a focus on how these instruments are marketed by the banks, insurance companies, and so on. The summative assessment will involve determining the costs of major purchases, such as buying a car or a home by borrowing money, as well as investing money for various terms and determine the effects of changing the conditions of the investment.
Duration Six (6) hours
Overall expectations
C. DISCRETE FUNCTIONS
C3 make connections between sequences, series, and
financial applications, and solve problems involving compound interest and ordinary annuities.
What do we want students to learn?
What is the overall goal for the student’s learning? Write this goal in student-friendly language.
Make connections between sequences, series, and financial applications, and solve problems involving compound interest and ordinary annuities.
Specific expectations
solve problems, using a scientific calculator, that involve the calculation of the amount, A (also referred to as future value, FV), the principal, P (also referred to as present value, PV), or the interest rate per compounding period, i, using the compound interest formula in the form A = P(1 + i)n [or FV = PV(1 + i)n]
Sample problem: Two investments are available, one at 6% compounded annually and the other at 6%
each investment, and determine the interest earned from depositing $1000 in each investment for 10 years. determine, through investigation using technology (e.g.,
scientific calculator, the TVM Solver on a graphing calculator, online tools), the number of compounding
periods, n, using the compound interest formula in the form A = P(1 + i)n [or FV = PV(1 + i)n]; describe strategies (e.g., guessing and checking; using the power of a power rule for exponents; using graphs) for calculating this number; and solve related problems
explain the meaning of the term annuity, and determine the relationships between ordinary simple annuities (i.e.,
annuities in which payments are made at the end of each period, and compounding and payment periods are the same), geometric series, and exponential growth, through investigation with technology (e.g., use a spreadsheet to determine and graph the future value of an ordinary simple annuity for varying numbers of compounding periods; investigate how the contributions of each payment to the future value of an ordinary simple annuity are related to the terms of a geometric series)
determine, through investigation using technology (e.g., the TVM Solver on a graphing calculator, online tools), the effects of changing the conditions (i.e., the payments, the frequency of the payments, the interest rate, the
compounding period) of ordinary simple annuities (e.g., long-term savings plans, loans)
Sample problem: Compare the amounts at age 65 that would result from making an annual deposit of $1000 starting at age 20, or from making an annual deposit of $3000 starting at age 50, to an RRSP that earns 6% interest per annum, compounded annually. What is the total of the deposits in each situation?
solve problems, using technology (e.g., scientific calculator, spreadsheet, graphing calculator), that involve the amount, the present value, and the regular payment of an ordinary simple annuity (e.g., calculate the total interest paid over the life of a loan, using a spreadsheet, and compare the total interest with the original principal of the loan)
What do we want students to learn?
What are the specific/key learning goals for the student? Write these goals in student-friendly language.
Arrange the specific expectations to incrementally achieve the desired learning.
3.3 solve problems, using a scientific calculator, that involve the calculation of the amount, the principal, or the interest rate per compounding period, using the compound interest formula. 3.4 determine, through investigation using technology, the number of compounding periods, using the compound interest formula; describe strategies for calculating this number; and solve related problems
3.5 explain the meaning of the term annuity, and determine the relationships between ordinary simple annuities, geometric series, and exponential growth, through investigation with technology.
3.6 determine, through investigation using technology, the effects of changing the conditions of ordinary simple annuities. 3.7 solve problems, using technology, that involve the amount, the present value, and the regular payment of an ordinary simple annuity.
Instructional/Assessment Strategies
Teacher’s notes
Use real-life scenarios to develop the personal finance concepts. Visits to the local bank or other financial institutions add context. Case studies add depth to the problems students solve.
Context
Students will learn the use of financial math in the banking, investment and real estate industries.
Essential Skills and work habits
Writing (e.g. writing a report)
Document Use (e.g. Evaluate a Website, Working through a database)
Numeracy (e.g. statistical calculations)
Oral Communication (e.g. class presentation) Thinking (e.g. critical analysis)
Reading Text (e.g. Reading Websites and other sources for understanding)
Computer Use (e.g. Use of Internet for research, using Excel or Fathom for statistical summaries, using Powerpoint for class presentation)
Instructional/Assessment Strategies
How will the learning be designed?
Do the instructional strategies support the achievement of the learning goals? Are the assessment strategies linked to each of the instructional strategies in a
planned, purposeful and systematic way?
Do the assessment and instructional strategies provide feedback and ongoing monitoring of the student’s learning throughout the CLA?
Topic Sequence:
Simple Interest, Arithmetic Sequences and Linear Growth Compound Interest Investigation
Compound Interest, Geometric Sequences, and Exponential Growth Present Value
Amount of an Ordinary Annuity
Present Value of an Ordinary Annuity How will we know students have learned?
How will the student demonstrate achievement of the desired learning? What are the criteria that will be used to determine the student’s level of
achievement?
What assessment instrument/tool will best gather this evidence?
Will the assessment of the learning provide opportunities for students to demonstrate the full range of their learning?
Assessment
Assignment on Personal Finance
Advertising Bank Accounts (Chapter 7 Task from Functions and Applications 11, McGraw-Hill Ryerson, page 376-377)
What adjustments must be made to the instructional and assessment strategies for those students who are not progressing?
Timeline for submissions can be adjusted Feedback on submissions
Use of graphic organizers One-on-one consultation
Assessment and Evaluation of Student Achievement Strategies/Tasks Purpose 1. 2. 3. Assessment tools Additional Notes/Comments/Explanations Resources
Authentic workplace materials
Human resources
Functions 11 (McGraw-Hill Ryerson), 2001
Video Software
Websites
Other
Texas Instruments TI-Nspire handheld
Accommodations
Timeline for submissions Feedback on submissions Use of graphic organizers One-on-one consultation
List of Attachments
(List all related materials, e.g., student worksheets, tests, rubrics.) Annuity Amount
Annuity PV Present Value Compound Interest 11U Assign 7
Chapter 7 Task (from Functions and Applications 11, McGraw-Hill Ryerson, page 376-377)
