- 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.
- Watch Video 3.1
- Discussion Questions:
- Define inflation.
- Explain the time value of money?
- Can you think of anything that has significantly increased in price during your lifetime?
- Make a copy of this Google Document, rename it Saving: A Way to Build Wealth-(Your Initials), and move this file into your Chapter 2 folder.
- Complete the assigned tasks given in the document.
- In your Personal Finance Journal-C2 file in your Chapter 2 folder, complete the next row in the table by answering the question listed.