compound interest and saving money. Money Strategies.

What is the best way to take advantage of COMPOUND INTEREST?

• Start saving money while you are young.....Start saving early!

• Wait until you are at least 50 years old to start saving money

• Don't save money. Spend any extra money on candy.

• Put your money underneath your bed mattress for safe-keeping.

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Save (a)   each week from $100 earnings if saving 20%.

• $10

• $15

• $20

• $25

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Which is a benefit of saving early for future goals?

• You will have less money in the future.

• You can take advantage of compound interest, which makes money grow faster!

• You will have to work more hours.

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The formula for calculating simple interest is (a)  

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If you invest $500 at a 5% annual simple interest rate for 3 years, you will earn (a)   in interest.

• $50
• $75
• $100
• $150

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What is compound interest?

• Interest calculated on the initial principal only

• Interest calculated on both the initial principal and the accumulated interest

• Interest that decreases over time

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Which strategy helps avoid living "paycheck to paycheck"?

• Spend all your money as soon as you get paid

• Save a small portion of your paycheck each month.

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CCSS.RL.8.1

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If you want to save $1,200 in a year, how much should you save each month?

• $50

• $75

• $100

• $150

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