Seventh Graders Learn It’s Expensive to Borrow Money to Buy a House!

In the third chapter of the seventh grade math curriculum, students learn how to find percentages and about the difference between simple and compound interest. Then, seventh graders are challenged to "purchase a home" by calculating the down payment, amount of interest paid on a 30-year home loan, and monthly payments for a home, based on the purchase price. “Students love this lesson,” says teacher Ali Frank, “but are shocked at how expensive it is to borrow money to a buy a house. We also talk about what it looks like to have a car loan.”