Remember last time?!
This is a factor that can increase the amount of interest you earn in a savings account, especially when interest is added to the balance periodically.
What is Compounding?
A plan that helps you track income and expenses.
What is a Budget?
What do we call the money you owe to others, like a loan or credit card bill?
What is debt?
The process of identifying problems, creating solutions, and building businesses to address those problems.
Entrepreneurship
Sarah wants to invest in a savings account. Which one should she choose to invest in?
a. She can invest $1000 in a savings account with a 4% interest rate compounded monthly
b. She can invest $1000 in a savings account with a 4% interest rate compounded annually
c. She can invest $1000 in a savings account with a 4% interest rate compounded semi-annually
A
What are the three categories for the budget rule?
Needs, Savings, Wants
Which country has the world’s largest economy (by GDP)?
What is the United States?
Entrepreneurs can use the ... to help identify problems and create solutions
The Problem-Solution Fit
If you want to compare two savings accounts, the one with the higher this will generally provide a better return on your deposit.
What is the Interest Rate?
According to the 50-30-20 rule, what percent of your money should you spend on wants?
30%
Who is known for creating Apple and is a famous entrepreneur in the tech world?
Who is Steve Jobs?
Name one of Elon Musk's 5 rules for creating a company
1. Work Hard
2. Have a great product or service
3. Hire the right people
4. Focus on signal over noise (AKA focus efforts and spending on improving the product or service)
5. Take Risks
What does APY stand for?
What is Annual Percentage Yield?
Julia has $20000 in total, how much should she have in savings?
$4,000
What is the term for the amount of money you earn from a job or business?
What is income?
John deposits $10000 in a savings account. He does not withdraw any money or add any money. In 10 years, how much money will be in the account if the interest rate is 4% and it is compounded annually?
How much is $14,802.44?
James earns $5000 a month. According to the budget rule, how much money should James spend on wants over a period of 5 years?
$90,000 on wants over a period of 5 years
Who founded Microsoft, the software company that made Windows?
Who is Bill Gates?