Day 49/67 of GED in Five Months, interest, and financial language learning

 How can you determine what the cost of a student loan, or a mortgage, might be, in 20 years, and what might interest rates have to do with that?   What might the difference be between simple interest, compound interest, the prime rate, and other types of interest rates?  And why should we all care?  All of these questions are part of learning the language of finance, which every Adult needs to understand, even if one does not wish to participate in all parts of the system.

You might get a start, or a refresher, on the mathematics for that in the lesson below…

 Middle of week 13/18
Day 49 Lesson Plan
Grammar: parallel structure in sentences
Math: Simple Interest
Today’s history reading
Day 49 Exit Ticket

Bernanke drew some more parallels between then and now:

” I thought that I would speak to you about the parallels–and differences–between that crisis and the more recent one, particularly regarding the responses of policymakers. I draw four relevant lessons from the financial collapse of the 1930s; I will first list these lessons, then briefly elaborate. First, economic prosperity depends on financial stability; second, policymakers must respond forcefully, creatively, and decisively to severe financial crises; third, crises that are international in scope require an international response; and fourth, unfortunately, history is never a perfect guide.”

Action Items:

1.) Search for two different sources explaining who Bernanke is, and what The Prime Rate is,

2.) Who sets The Prime Rate in the US, and what does it affect?

3.) Write a book, story, blog post or tweet that uses your findings, and then, please tell us about it! If you write a book, once it is published please consider donating a copy to your local public library.

4.)  Feel free to answer the exit ticket questions in the comments, or pose any other questions you may have about the lesson, if you wish.

Dear Readers, ideas on learning, especially multiple #LanguageLearning, on-going education and empathy-building, to #EndPoverty, #EndHomelessness,  #EndMoneyBail & achieve freedom for All HumanKind

Support our key #PublicDomainInfrastructure  &  for heavens sake: please #StopSmoking for CCOVID-19 (or even for good!)!:
1. #PublicLibraries,
2. #ProBono legal aid and Education,
3. #UniversalHealthCare, and
4. good #publictransport
Read, Write -one can add Stayed on Freedom’s Call via this GoodReads button:


January, 2021 CE = January 12021 HE

(Day 48Day 50)

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Shira Destinie Jones by ShiraDest is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

9 thoughts on “Day 49/67 of GED in Five Months, interest, and financial language learning

    1. Yes, it is, Vic, thank you for bringing this up: when I purchased a home in MD back in 1997, I had to fight my own real estate broker not to take an ARM, and to ensure that my mortgage did not carry a PENALTY for early paydown of principle (since interest is paid off first, at least on some mortgages…) and he strongly discouraged me from making prepayments! I had to remind him that I was trained in math/computer science, and thus I both know how to calculate, and am trained to read closely, so he relented, but it was not easy. It was a bit shocking, though.

      Liked by 2 people

        1. Exactly. I used to have an extra amount paid out automatically each month, until the entire regional economy tanked, taking jobs and housing with it. I got so close to paying off my mortgage, and then was forced to use up nearly all of my savings before selling in a diving market, so close to having my own place.

          But, had I not insisted on pre-paying, I might have sold still owing, rather than walking away even.
          Many people were not so lucky.

          Liked by 2 people

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