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Simple and Compound Interest—Why It Is Great To Save

Formulas for simple and compound interest, as well as the Rule of 72, are explained and used to illustrate the benefit of saving in general and the benefit of saving early in particular.

•  Lesson (pdf)

•  PowerPoint slides (pptx)

The Making Personal Finance Decisions curriculum teaches valuable personal finance lessons grounded in economic theory. The curriculum is divided into 10 themed units, with each unit containing two lessons. The twenty individual lessons employ a variety of teaching strategies designed to engage students in the learning process and equip them with the knowledge and skills necessary to make informed personal finance decisions. Simple and Compound Interest—Why It Is Great To Save is lesson 6B of Unit Six: Saving.

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Audience:   High School
Language:   English
Subjects:   Economics, Mathematics, Personal Finance
Resource Types:   Lessons, PowerPoint
Concepts:   Decision-Making, Income, Interest, Opportunity Cost, Saving, Sources of Income