MAKING MONEY EARN MONEY
Reading edition
The table given below tells how much your savings will amount to at four per cent interest compounded semi-annually. One dollar a month is a little less than twenty-five cents a week. From this table, answer the following questions:
1. If you save one dollar a month, how much will you have in three years? Five years? Eight years? Ten years?
2. If you save four dollars a month—less than a dollar a week—how much will you have in six years? Ten years?
3. If you save ten dollars a month, how much will you have in seven years? Ten years?
4. If you save five dollars a month for ten years, will you have more or less than if you save ten dollars a month for five years?
5. Can you explain to the class how to read the table?
Monthly savings. 1 year 2 years 3 years 4 years 5 years
$1 $12.24 $24.98 $38.24 $52.03 $66.39
$2 24.48 49.96 76.48 104.06 132.77
$3 36.73 74.94 114.71 156.10 199.16
$4 48.97 99.93 152.95 208.13 265.55
$5 61.21 124.91 191.19 260.16 331.94
$10 122.42 249.81 382.38 520.32 663.87
Monthly savings. 6 years 7 years 8 years 9 years 10 years
$1 $81.32 $96.87 $113.04 $129.83 $147.35
$2 162.65 193.74 226.09 259.67 294.70
$3 243.97 290.61 339.13 389.50 442.05
$4 325.30 387.48 452.18 519.34 589.39
$5 406.62 484.35 565.22 649.17 736.74
$10 813.25 968.89 1,130.45 1,298.35 1,473.48
—From "Fifteen Lessons in Thrift".