The students discover that three factors affect how money grows in savings accounts: the amount deposited, the interest rate, and the length of time the money is held on deposit. Students calculate interest and formulate a generalization about the difference between simple and compound interest.
Notes
The link on page 119 of the teacher's manual is incorrect. Please use this link instead.
Concepts
- Compound interest
- Compound Interest
- Compounding
- Cost
- Interest
- Interest Rate
- Opportunity Cost
- Rule of 72
- Simple Interest
Standards in Economics and Personal Finance
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This publication contain 16 lessons that introduce middle school students to the world of investing, its benefits and risks, and the critical role it plays in fostering capital formation and job creation in our free market system.
This publication contains 23 lessons that introduce high school students to the world of investing--its benefits and risks and the critical role it plays in fostering capital formation and job creation in our free market system.
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