Nouns
What is a noun?
A person, place, thing, or idea.
What is a verb?
A word that describes an action Example: run, walking, swimming or singing.
Why do banks pay interest ?
Banks pay interest to encourage you to save money with them
What is a loan shark ?
A loan shark is someone who lends money at very high interest rates, often unfairly.
If you get $100, would you spend or save it? Why?
Spender: Spend it right away
Saver: I would save it to earn interest or for future needs.
Find the noun in the sentence: The dog barked loudly
Dog
Find Interest
$200 at 4% for 2 years
I = 200 x 0.04 x 2
I = $16
What happens if you leave money in the bank longer
The longer you leave your money in the bank, the more interest you earn.
Why do loan sharks charge high interest?
Loan sharks charge high interest to make a lot of money quickly.
What is a good reason to take a loan?
A good reason to take a loan is for something necessary, like buying a house or paying for education, where the benefit outweighs the cost of the loan
Which word(s) is/are a noun in this sentence: I gave my mom a gift.
Mom & gift
$500 at 3% for 3 years
I =500×0.03×3
I = $45
How does a higher rate help you save more?
A higher interest rate means you earn more money on your savings
If you borrow $500 at 20% for 2 years, how much will you in total after 2 years?
Interest = $500 × 0.20 × 2 = $200
Total owed = $500 + $200 = $700
What happens if you don’t pay a loan on time?
If you don’t pay a loan on time, you may face late fees, a damaged credit score, or even legal action.
What type of noun is "school" ?
Common Noun
What would your account be in total if you invested $1,000 for 2 years with 6% interest rate ?
Interest = $1,000 × 0.06 × 2 = $120
Total = $1,000 + $120 = $1,120
Why might someone choose a lower interest rate?
They might choose a lower rate for other benefits like lower fees or better loan terms.
Why is borrowing too much dangerous?
Borrowing too much can make it hard to pay back the money and cause more debt.
How can budgeting help avoid loans?
Budgeting helps you save money and plan for future expenses, reducing the need to borrow money.
Identify the proper noun in the sentence:
Mrs. L loves going to Chutes Park
Mrs. L and Chutes Park
Find total amount of Interest earned: $1,500 at 7% for 4 years
Interest = $1,500 × 0.07 × 4 = $420
Why do different banks offer different rates
Different banks offer different rates based on how much money they lend or borrow and how they compete with other banks.
What are safe options to get a loan from instead of a loan shark?
Safe alternatives include banks or credit unions that charge lower interest rates.
How can knowing interest rates help you in the future
Knowing interest rates helps you make smart decisions about saving, borrowing, and choosing financial products that are best for your needs.