Interpreting and validating models of loans

Abstract

Due to developments in the financial marketplace, digitalization of finance and easy access to financial products, financial literacy is becoming increasingly important. The paper at hand introduces parts of a learning environment for mathematics classes that focuses on mathematical modelling and financial literacy. After theoretical considerations, two worksheets are presented, which deal with influences of the interest rate on the repayment of loans. Based on the description of a test run, the usability of the worksheets in class is concluded.

Keywords

• mathematical modelling
• financial literacy
• loans
• worksheets