1 July - 7 July

FOCUS / ARONGA learning intentions:

• We are FOCUSING on developing an understanding of different ways to earn an income.
• We are FOCUSING on developing an understanding of simple and compound interest.

EXPLORE / TŪHURA learning intentions:

• We are EXPLORING using a formula to calculate simple and compound interest.
• We are EXPLORING using the tax table to calculate income tax deductions.

Kia ora 10C2

TERM 2  WEEK 10

Success Criteria: I can/have...

• Calculate simple interest using the formula
• Calculate net income after common deductions

Activities:

1. Warm up - https://www.transum.org/Software/SW/Starter_of_the_day/starter_July23.ASP
2. What is interest in financial terms?
3. Where and how do interest rates apply?
4. Two common bank interests - Simple interest and compound interest
5. Understanding simple and compound interest
6. Introduce formulas for simple and compound interest
7. Go over a few application questions for simple interest
8. Students practice simple interest word problems
9. Extension work - Compound interest
10. What is tax? What is Income tax?
11. How is income tax calculated? Introduce tax table and demonstrate with an example how it works. 
12. Tax thresholds changing from 31st July 2024 - Comparison between new and old thresholds
13. Pick a profession, research salary and calculate income tax with current and changing tax thresholds

Homework:
Maths Buddy (Differentiated)