M & M Interest Activity
You will be working in groups, to calculate interest over six deposit cycles. Some groups will be calculating using simple interest, while other will be using compound interest.
After each cycle, each group will receive its next deposit and its interest for that cycle. At the end of the six cycles, all groups will compare their calculations with other groups in the class.
Mrs. Klein will serve as the banker and will hold envelopes for each group to hold its "funds".
The simple interest groups will receive their interest as it is earned and will only place the deposit in an account envelop.
The compound interest groups will deposit all interest earnings and place interest in envelopes along with regular deposits.