Manage a business. The Lemonade Stand has been a business simulation developed in many different versions. We believe this is the first time that it has been created as a spreadsheet simulation. If you are a young entrepreneur who wants to learn how a business works and how you can use spreadsheets to improve your business we encourage you to try our spreadsheet lemonade stand. It is based on standard business practices and shows you how to build a business model and simulate its profitability.
The rule of 72 is an old banker’s rule of thumb to find out how long it will take to double your money at different interest rates. Financial literacy has become an increasingly important topic for K-12 education and we believe spreadsheets and headmath or mental estimation should be central to it. Rule of 72 combines both and gets students calculating compound interest. They can also see how expensive high credit card interest rates can be to them.
There are a wide variety of financial literacy problems. This is the kind of problem that appears on many tests. It does not ask you directly to find the cost of a taxi ride which includes both a fixed and variable amount. See if you can use this Lab to make this problem and problems like it easy for you to solve.