Ways to Save

Ways to Save

Compare the advantages and disadvantages of various savings options.

Multiple Choice

Which of the following describes a disadvantage of saving money in a savings account at a bank?

• Your money is easy to get to and withdraw.

• There are few or no risks involved.

• The interest rate will earn more money for you.

• If your account balance falls below a mininmum required amount of money, the bank may charge you a fee.

Multiple Choice

Mayra wants to save the $40 she received for her birthday for something special. She decides to keep the money in her piggy bank. Which is an advantage of saving money in a piggy bank?

• The money is easy to access

• The money earns interest.

• The money cannot be stolen.

• The money cannot be spent for 12 months.

Multiple Choice

Elijah says that if he takes his $700 to the bank, thieves might steal his money ... is Elijah right or wrong?

• right

• wrong

Multiple Choice

Victoria believes that if she takes her $700 to the bank it will grow over time because of the interest the bank will pay her ... is Victoria right or wrong?

• right

• wrong

Multiple Choice

Guillermo wants to put his $700 under his bed (cama) ... what would you say to Guillermo?

• Do it, nobody will find it

• It's not a safe option, somebody might steal it

Find the total amount in the savings account.

$3 per week for 10 weeks

$0.30 total interest

• Step 1: $3 x 10 =$30

• Step2: $30.00 + $0.30 = $30.30

• The total amount after 10 weeks in the savings account is $30.30

Multiple Choice

Tre saved $9 per week for 17 weeks. Jahlel saved $32 per month for 4 months. How much more modey did Tre save than Jahlel?

• $15

• $23

• $13

• $25

Multiple Choice

Adrian save $8 per week for 17 weeks. Santiago save $32 per month for 4 months. How much more money did Adrian save than Santiago?

• $8

• $11

• $264

• $24