4.10C Savings Options

Jacob needs $79 to buy a remote control car. What is the advantage of Jacob saving his money in a savings account at his bank?

• He can earn interest on money saved in a savings account.

• He would earn no interest on money saved in a savings account.

Tags

CCSS.6.NS.B.3

Mary needs $120 to buy a new computer program. What is the disadvantage of Mary saving her money at home?

• She knows where her money is at all times.

• Someone may take the money and spend it.

Tags

CCSS.RI.4.2

CCSS.RI.5.2

CCSS.RL.3.1

CCSS.RL.4.1

CCSS.RL.5.2

Which statement is true about saving money in a bank savings account?

• You may lose money.

• You may end up with more money than the amount you deposit.

• You can never get your money out again.

• You have to pay the bank to keep your money there.

Which is a disadvantage of saving your money in a secret hiding place?

• You cannot always get to the money.

• The money will not earn interest.

• You will end up with more money than you saved.

• You can save more money.

Tags

CCSS.RI.4.2

CCSS.RI.5.2

CCSS.RL.3.1

CCSS.RL.4.1

CCSS.RL.5.1

If you save $700 and earn $3 interest for every $100, how much money will you have in all?

• $721

• $703

• $730

• $7,021

Tags

CCSS.6.RP.A.3B

Vincent earned $36 on savings of $900. What interest did he earn?

• $2 for every $100 saved

• $4 for every $100 saved

• $3 for every $100 saved

• $9 for every $100 saved

Tags

CCSS.6.RP.A.3B

Which of the following is NOT a reason that people deposit their money in bank accounts?

• F. Banks do not let people borrow money, so it is safer there.

• G. It is safer to keep the money in a bank than having cash in a house.

• H. Some bank accounts allow people to pay for purchases using checks or debit cards.

• J. Banks pay interest on the money people deposit in some types of accounts.

Mayra wants to save the $40 she received for her birthday for something special. She decides to keep the money in her piggy bank. Which is an advantage of saving money in a piggy bank?

• The money is easy to access

• The money earns interest.

• The money cannot be stolen.

• The money cannot be spent for 12 months.

Victoria deposited $22 per month for 2 months in her savings account. The account earned a total of $0.21 interest during that time. Victoria has _____________ in her savings account after 2 months.

Tre saved $9 per week for 17 weeks. Jahlel saved $32 per month for 4 months. How much more modey did Tre save than Jahlel?

• $15

• $23

• $13

• $25