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
Click the green star next to my store logo to follow Surviving Social Studies. Following my store simply means you'll get e-mail updates about new products, freebies, and when I'm throwing a sale. Thanks for visiting!
FOR 99 DIFFERENT SOCIAL STUDIES ITEMS CHECK OUT THIS BUNDLE!
Social Studies Bundle - 99 Different Products - U.S. History, Geography, & More!