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lesson 29
1 hour

The Mathematics Behind a Structured Savings Plan


Description

In Lesson 29, students derive the formula for the sum of a finite geometric series (A-SSE.B.4). Once established, students work with and develop fluency with summation notation, sometimes called sigma notation. Students are then presented with the problem of a structured savings plan (known as a sinking fund, but this terminology is avoided). Students use the modeling cycle to identify essential features of structured savings plans and develop a model from the formula for the sum of a finite geometric series.

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Credits

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