CHECK YOUR UNDERSTANDING 214 21 L01-1 9. Why is it important to start saving early to...

 

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CHECK YOUR UNDERSTANDING 214 21 L01-1 9. Why is it important to start saving early to meet your short-term and long-term needs? hier not insmi LO1-2 10. Explain the concept of compounding and how your money grows. LO1-3 11. List the various places where you can have a savings account. APPLY YOUR KNOWLEDGE L01-1 12. Describe the advantages and disadvantages of spending now rather than saving for the future. How can saving improve your financial peace of mind? THINK CRITICALLY L01-1 13. Do you believe that receiving post-secondary training will increase your lifetime earnings? Why or why not? L01-2 14. Why is it important to compare the APY on banks' savings accounts? L01-3 15. There are many places where you can save money. Some are insured and others are not. The safer your money is (less risk), the lower your rate of return (APY) will be. Are you willing to take more risk to earn more interest on your savings? Explain your answer. The Essential Qu CHECK YOUR UNDERSTANDING 214 21 L01-1 9. Why is it important to start saving early to meet your short-term and long-term needs? hier not insmi LO1-2 10. Explain the concept of compounding and how your money grows. LO1-3 11. List the various places where you can have a savings account. APPLY YOUR KNOWLEDGE L01-1 12. Describe the advantages and disadvantages of spending now rather than saving for the future. How can saving improve your financial peace of mind? THINK CRITICALLY L01-1 13. Do you believe that receiving post-secondary training will increase your lifetime earnings? Why or why not? L01-2 14. Why is it important to compare the APY on banks' savings accounts? L01-3 15. There are many places where you can save money. Some are insured and others are not. The safer your money is (less risk), the lower your rate of return (APY) will be. Are you willing to take more risk to earn more interest on your savings? Explain your answer. The Essential Qu

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10 Compounding and How Your Money Grows Compounding is like earning interest on your interest When you save money and earn interest that interest gets added to your principal amount the original amoun... View the full answer