Compound Interest: The Ninth Wonder of the World



  By starting at age 16, and working only four summers, you’ll be on your way to securing your financial future. The following exercises will prepare you to begin investing with just a small amount of change and turn it into a large chunk of money! You will then purchase a new Mustang Convertible. You’ll look at the current auto loan interest rates, compare payment plans and determine which one is most affordable. After you’ve purchased your new car, we’ll take a look at how much that investment actually set us back in our retirement account. Perhaps in the future before making a major purchase such as a car, you’ll first calculate the cost to your retirement plan. In the next exercise you will get ready for graduation. Two students are going to graduate and receive monetary gifts. One of them will earn considerably more while investing considerably less. This is a powerful example that is very easy to understand. After completing the five tasks, you will write a very brief summation outlining the financial principles that were presented in each task. Remember...the principles you are about to review are simple yet powerful! A multi-media slide show presentation will then be presented to the class based on your written summation. After completing the assignments, you will see that just one or two percent of interest compounded over a number of years can be the difference in thousands and thousands of dollars for you.

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