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This video explains the concept of compound interest in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about compounding, or used as a money & personal finance resource by parents and teachers as part of a Financial Literacy course or K-12 curriculum.
Compound interest is what you earn on your principal after the first month that helps your money grow. WHAT IS COMPOUND INTEREST? You deposited your principal in the bank and earned interest; they are added together to become your new principal. The next time you earn interest, you earn interest on your new principal.
1 Νοε 2024 · The compound interest formula is: A = P ( 1 + r n ) n t Where A is the amount, P is the principal amount, r is the interest rate, n is the number of times per year the interest is compounded, and t is the number of years.
5 Νοε 2024 · To teach your child about the power of compound interest, you can spark their curiosity by setting out two big empty jars, giving them some coins, and telling them that they can earn money by completing a “marathon” around the yard.
In this lesson students learn how compound interest works and why saving now can help you later. • How do you make your money work for you? Explore what this might mean. • What is the difference between simple interest and compound interest? a.
The Power of Com pound Interest SUBMITTED BY: Lisa Bender SUBJECT(S): Personal Finance GRADE LEVEL(S): 9, 10, 11, 12 ☰ OVERVIEW: In this lesson, students learn the concept of “Pay yourself first” and explore ways to develop this habit to take advantage of the power of compound interest. ☰ NBEA STANDARD(S):
Try out our pdf compound interest worksheets to practice finding interest, amount, principal, time, or rate, and solving compound interest word problems.
