Money Problems *
AbstractMath can make you money! If you understand some basic math, you can make good decisions about how to keep, spend, and use your hard earned dollars. Try an experiment comparing the same balance in different types of bank accounts. How much better is a savings account than a checking account? What difference does the interest rate make? Which is better, an account that earns compound or simple interest? Can you compare the short and long term costs of borrowing money compared to saving the cash for a purchase? Use mathematical arguments to answer classic questions like, "Which is more: one million dollars, or one penny the first day, double that penny the next day, then double the previous day's pennies and so on for a month?" (Dr. Math, 2006)
Cite This Page
Last edit date: 2017-07-28
- Dr. Math. (n.d.). Doubling Pennies. The Math Forum, University of Drexel School of Education. Retrieved May 1, 2006, from http://mathforum.org/dr.math/faq/faq.doubling.pennies.html
- Northwestern Mutual. (n.d.). How Banks Work. The Mint: It Makes Perfect Cents. Retrieved May 19, 2014, from http://www.themint.org/kids/how-banks-work.html
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