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QR Challenge: 8th Grade Simple/Compound Interest

Created using the ClassTools QR Treasure Hunt Generator

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Teacher Notes

A. Prior to the lesson:

1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.

2. If their phone camera doesn't automatically detect and decode QR codes, ask students to

3. Print out the QR codes.

4. Cut them out and place them around your class / school.

B. The lesson:

1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.

2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.

3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!

C. TIPS / OTHER IDEAS

4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.

Questions / Answers (teacher reference)

Question

Answer

1. How much more money is earned on a $2,000 investment at 2% compound interest for 15 years than a $2,000 investment at 2% simple interest for 15 years?$91.74
2. What is the amount returned on a deposit of $1,000 held for 2 years at 10% interest compounded annually?$1210
3. Daniel puts $80,000 in an account that earns 0.6% interest compounded annually. How much interest does he earn after 15 years?$7510.41
4. The formula to compute simple interest is I = prt, where I is the interest earned in dollars, p is the principal invested in dollars, r is the rate at which it is invested, and t is the time in years of the investment. If Pat invests $500 at 4% for 3 years, how much interest will he earn?$60
5. Mr. Hobbs took out a loan of $12,000 for 4 years at a simple annual interest rate of 7%. How much interest did he pay?$3360

 


8th Grade Simple/Compound Interest: QR Challenge

https://www.classtools.net/QR/decode.php?text=How_much_more_money_is_earned_on_a_$2,000_investment_at_2%_compound_interest_for_15_years_than_a_$2,000_investment_at_2%_simple_interest_for_15_years?

Question 1 (of 5)

 


8th Grade Simple/Compound Interest: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_the_amount_returned_on_a_deposit_of_$1,000_held_for_2_years_at_10%_interest_compounded_annually?

Question 2 (of 5)

 


8th Grade Simple/Compound Interest: QR Challenge

https://www.classtools.net/QR/decode.php?text=Daniel_puts_$80,000_in_an_account_that_earns_0.6%_interest_compounded_annually._How_much_interest_does_he_earn_after_15_years?

Question 3 (of 5)

 


8th Grade Simple/Compound Interest: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_formula_to_compute_simple_interest_is_I_=_prt,_where_I_is_the_interest_earned_in_dollars,_p_is_the_principal_invested_in_dollars,_r_is_the_rate_at_which_it_is_invested,_and_t_is_the_time_in_years_of_the_investment._If_Pat_invests_$500_at_4%_for_3_years,_how_much_interest_will_he_earn?

Question 4 (of 5)

 


8th Grade Simple/Compound Interest: QR Challenge

https://www.classtools.net/QR/decode.php?text=Mr._Hobbs_took_out_a_loan_of_$12,000_for_4_years_at_a_simple_annual_interest_rate_of_7%._How_much_interest_did_he_pay?

Question 5 (of 5)