Brittany
Savings -a fund of money put by as a reserve.
Bank-An organization
Questions:
What is a savings account? Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money.
How do you make money through a bank?
you are paid interest in some types of accounts every day.
Define interest? a sense of concern with and curiosity about someone or something.
What two types of interest are named?
Simple interest and compound interest.
When does interest work in your favor?
Interest works in my favor when I put money in the bank.
Banks pay interest in two ways. What are they?
Simple and compound.
Compound interest makes your savings grow faster.
Thursday, July 8, 2010
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