Day 10

Lesson Objectives

• 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.

Assignment 2.3.1

1. Watch Video 3.1
2. Discussion Questions:
   1. Define inflation.
   2. Explain the time value of money?
   3. Can you think of anything that has significantly increased in price during your lifetime?

Assignment 2.3.2

1. 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.
2. Complete the assigned tasks given in the document.

Assignment 2.3.3

1. In your Personal Finance Journal-C2 file in your Chapter 2 folder, complete the next row in the table by answering the question listed.