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lesson 4
1 hour

Why Do Banks Pay YOU to Provide Their Services?


Description

Begin class with a discussion of why banks pay customers interest to provide a service to them. Pose the question first, and have students discuss their ideas, and then give them a bit of history on this topic. This question is revisited at the end of the lesson.
"Have you ever thought it odd that banks pay YOU interest for the honor of looking after your money for you?"

Give students time to think about this. Some students may have no concept of this. That is okay. Give them a little history, and they can become familiar with the concept throughout the lesson. They have a chance to answer as we move through the lesson.

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Credits

From EngageNY.org of the New York State Education Department. Algebra I Module 3, Topic A, Lesson 4. Available from engageny.org/resource/algebra-i-module-3-topic-lesson-4; accessed 2015-05-29.
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