Wednesday 23 October 2024

October 23, 2024

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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