During dinner, talk to parents and tell them:
"Mr. Kwok says that I need to learn to manage money. It is always a good start with a weekly allowance so I can learn to spend half and save half."
- let's see if your parents will give you an allowance
Case 1, 2, 3, 4
Case 1: $34.50 (balance is less than $2000. Thus, a $10 fee is charged in addition to the other)
Case 2: $38.75
Case 3: $42.00
Case 4: $50.00
G8 MATH: FINANCIAL LITERACY
Part A: Saving and interest rate
The money that is deposited in a bank earns interest. However, In order to make money, the banks charge transaction fees for almost anything. Take a look at these savings accounts offered by TD bank:
https://www.td.com/ca/en/personal-banking/products/bank-accounts/savings-accounts/
- which account will you open? Is it expensive to maintain? Explain your thinking.
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