This activity on Simple Interest is amazing! Students will be given a list of 4 houses for sale. Students will determine which house they want to purchase after calculating the down payment, interest, balance, and monthly payment (mortgage). After calculations, students will fill out an application for a home loan. Students will write a check to the bank for 20% of the purchase price of their home.
This activity will leave your students asking for MORE! They will love learning real world examples such as purchasing a house. You will be amazed at how engaged your students will be with this activity.
The vocabulary terms include simple interest, balance, principal, rate, time, monthly payment, mortgage, and foreclosure