T.i.P.S.

Students need to understand that money invested or the principle balance grows as interest is earned over various lengths of time and different interest rates.
Example

If Maggie’s family invests $15,000 into a savings account that earns 6.75% interest compounded annually, what will be the total value in the account after 10 years?
Digital Tools

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Resources

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TEKS

8.12 Personal financial literacy. The student applies mathematical process standards to develop an economic way of thinking and problem solving useful in one's life as a knowledgeable consumer and investor. The student is expected to:
(C) explain how small amounts of money invested regularly, including money saved for college and retirement, grow over time