© south-western educational publishing chapter 10 saving for the future savings goals and...
TRANSCRIPT
![Page 1: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/1.jpg)
© South-Western Educational Publishing
Chapter 10
Saving for the Future
Savings Goals and InstitutionsSavings Options, Features, and
Plans
![Page 2: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/2.jpg)
GOALSGOALS
© South-Western Educational Publishing
Lesson 10.1
Savings Goals and Institutions
![Page 3: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/3.jpg)
© South-Western Educational Publishing
Why You Should Save
Short-term needsLong-term needs
Financial security
![Page 4: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/4.jpg)
© South-Western Educational Publishing
How Your Money Grows
![Page 5: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/5.jpg)
© South-Western Educational Publishing
Compounding Interest Annually
Beginning Interest EndingYear Balance Earned (5%) Balance
1 $100.00 $5.00 $105.00 2 105.00 5.25 110.25 3 110.25 5.51 115.76
![Page 6: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/6.jpg)
© South-Western Educational Publishing
Compounding Interest Quarterly
Quarterly Compounding Annual Interest Rate = 6%
Beginning Quarterly Quarterly Interest Ending
Year Balance Interest Q1 Q2 Q3 Q4 Balance
1 $100.00 .015 $1.50 $1.52 $1.55 $1.57 $106.142 106.14 .015 1.59 1.62 1.64 1.66 112.653 112.65 .015 1.69 1.72 1.74 1.77 119.57
![Page 7: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/7.jpg)
© South-Western Educational Publishing
Where You Can Save
![Page 8: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/8.jpg)
GOALSGOALS
© South-Western Educational Publishing
Lesson 10.2 Savings Options, Features, and Plans
![Page 9: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/9.jpg)
© South-Western Educational Publishing
Savings Options
![Page 10: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/10.jpg)
© South-Western Educational Publishing
Selecting a Savings Plan
![Page 11: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/11.jpg)
© South-Western Educational Publishing
Saving Regularly
![Page 12: © South-Western Educational Publishing Chapter 10 Saving for the Future Savings Goals and Institutions Savings Options, Features, and Plans](https://reader036.vdocuments.mx/reader036/viewer/2022083007/56649e015503460f94aebbb9/html5/thumbnails/12.jpg)
© South-Western Educational Publishing
Compounding Interest and Making Additional Deposits
Beginning Interest Ending
Year Balance Deposits Earned (5%) Balance
1 $ 0.00 $100.00 $ 5.00 $105.002 105.00 100.00 10.25 215.253 215.25 100.00 15.76 333.014 331.01 100.00 21.55 452.56