We talked about the real world of interest and how this works with a bank. Maybe our students will pay off mortgages more quickly after learning about interest! We talked about how to be 'trustworthy' to enable a bank to lend you money. Kendall talked about each of us only being able to borrow so much before it is too much.
These were cool adult concepts to talk about. Joseph wondered if you were part way through paying off a bike on lay buy and then changed your mind, what would the shop do?
We played an "interest game" to help us understand how interest works. Unfortunately interest rates were decided by a roll of a dice! (Thank goodness this doesn't happen in real life!) Teams had to decide how much risk to take with their money. Roi's team decided to invest all of their money on a dice roll!! It turns out that the team who took the least risk came out on top eventually.
Kiwi Bank is one of Banqer's business partners and they pay for students to use this resource for free.
We love the learning that comes from using Banqer. Please comment below about what you have learned. Thanks Kendall and Gemma!
Today I learnt about intrest like how you put money into the bank and people. Can borrow your money and when you want it back you get a little extra
ReplyDeleteToday I learnt about when you put some money into the bank other people can use your money but when you want your own money back you still get the same amount. My favourite part was playing the game and I enjoyed learning new things about money.
ReplyDeleteit was fun learning about interest
ReplyDeleteit was really cool learning about who borrowing money works
ReplyDeleteThank you Kendall and Gemma for teaching us about financial interest. The game at the end was fun. Congrats to Roi's group for playing it safe and winning.
ReplyDeleteIt was so fun playing the game and learning about debt
ReplyDeleteThank you so much for inviting Kendall and Gemma over to talk about banqer. I loved learning about interest, laybay and smart ways to manage your money. The game was definitely the most fun part!ps. Our team (Roi's team)were NOT the ones who played safe!
ReplyDeletei sure enjoyed the fruit burst
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