- Demonstrate how compound interest works and understand the impact of annual interest rate.
- Describe the difference between simple and compound interest.
- Understand the importance of beginning to save now.
- Inside of your Banking Unit folder, create a new folder titled Lesson 4. All your tasks completed in Lesson 4 should be stored in this folder.
- Watch Video 4.1
- Discussion Questions:
- Define inflation.
- Explain the time value of money?
- Can you think of anything that has significantly increased in price during your lifetime?