Money Math · Lesson Plan
Down Payment Word Problems
This lesson pulls the down-payment skills together into word problems. Students define a down payment, calculate the new price after one, and work out simple payment plans based on the remaining balance — practical consumer math.
For Teachers
Lesson at a glance
- Topic
- Money Math
- Grade Level
- Grades 6–8
- Resource Type
- Lesson + Worksheet
- Estimated Time
- 30–45 minutes
- Format
- Reading + practice worksheet
- Materials
- Printable lesson, worksheet, calculators
What Students Learn
Learning objectives
- Define a down payment
- Calculate the new price after a down payment
- Work out a payment plan from the remaining balance
- Solve real-world down-payment word problems
- Explain why down payments and payment plans are used
Materials
What you’ll need
- Printed copies of the lesson and worksheet (one per student)
- Calculators
- Whiteboard or projector for worked examples
Key Terms
Vocabulary
- Down payment
- An amount paid up front toward a total purchase.
- Balance
- The amount still owed after a down payment.
- Payment plan
- A schedule for paying off a balance over time.
- Installment
- One scheduled payment in a payment plan.
- Total price
- The full cost of an item.
- Word problem
- A math problem described in words.
For Teachers
Lesson plan
Estimated time: one 30–45 minute class period.
Lesson sequence
- Introduction (5 min). Recap what a down payment is and that what’s left is paid off over time.
- Read the method (10 min). Students read how to find the new price after a down payment and set up a payment plan.
- Worked example (10 min). Solve a down-payment word problem and split the balance into equal installments.
- Worksheet (12 min). Students practice; the answer key is included for teacher use.
Assessment
Assess the worked example and worksheet practice.
Discussion
Discussion questions
- What is a down payment, and what happens to the rest of the price?
- How do you find the balance after a down payment?
- How would you split a balance into equal monthly payments?
- Why do stores and lenders offer payment plans?
- How can you check a down-payment word-problem answer?
Printable Lesson & Worksheet
Down Payment Word Problems — Lesson & Worksheet
Printable lesson plus practice problems, with an answer key for teacher use.
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