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Middle School Economics: Savings - Piggy Banks, Simple & Compound Interest

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Middle School Economics: Savings - Piggy Banks | Simole Interest | Compound Interest

For a great deal on 5 Economics products check out this bundle!
The Economics of Checks, Budgets, Stocks, College, and Savings - 5 Activities!


I love teaching Economics to my middle school students because it directly relates to their lives. I teach 8th grade, and most of the students I teach save their dollars or coins in some form of a "piggy bank," some have a savings account, and some haven't had anyone show them how to get a savings account at a bank.

In this product, students will begin to understand the power on interest. They will be guided through three different scenarios of a girl named Marcy who is given $100. Your students job will be to figure out how much money Marcy would make by putting that $100 in a piggy bank for 10 years, a savings account earning simple interest for 10 years, and a savings account earning compound interest for 10 years. An answer key is provided for ease of instruction.

An extension activity is also provided in this product where your students are given $500 for their high school graduation. Your students can see what the power of compound interest will be if they don't touch that $500 for 40 years as well as if they add $500 to that account every year for 40 years. An answer key is provided for this activity as well so that your students can check in with you every so often to make sure they are on the right track if you so choose.

Many times after doing this activity students will say that they've asked their parents if they can go to the bank and open a savings account!

Check out my other Economics Bundles:
The Economics of Balancing a Budget & The Economics of Saving Your Money

The Economics of Balancing a Budget & The Economics of Check Writing

The Economics of Balancing a Budget & The Economics of College

The Economics of Balancing a Budget & The Economics of Investing in the Stocks

The Economics of Check Writing & The Economics of College

The Economics of Check Writing & The Economics of Investing in Stocks

The Economics of Check Writing & The Economics of Saving Your Money

The Economics of College & The Economics of Saving Money

The Economics of College & The Economics of Investing in Stocks

The Economics of Saving Your Money & Investing in Stocks

Here's even MORE Economics products:
Career Research Packet

Economics Bundle Pack - Stocks, Cost/Benefit, & 2 Invention Projects

Famous Inventors and Their Inventions Presentation

Opportunity Cost and Benefit Packet

The Cause and Effect of the Greatest Events or Inventions from 1950-1999 Project


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Enjoy!


FOR 99 DIFFERENT SOCIAL STUDIES ITEMS CHECK OUT THIS BUNDLE!
Social Studies Bundle - 99 Different Products - U.S. History, Geography, & More!
Total Pages
15
Answer Key
Included
Teaching Duration
N/A

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Middle School Economics: Savings - Piggy Banks, Simple & C
Middle School Economics: Savings - Piggy Banks, Simple & C
Middle School Economics: Savings - Piggy Banks, Simple & C
Middle School Economics: Savings - Piggy Banks, Simple & C