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L4 All of them please Part 1: Savings Accounts When it comes to saving, there are many different choices. In this activity, you will investigate
L4
Part 1: Savings Accounts When it comes to saving, there are many different choices. In this activity, you will investigate various savings accounts from different financial institutions. Select three different financial institution to research the following information (two banks and a credit union). Assume your account will start with a balance of $1000. Collect the following information for a savings account from your financial institution and post it to the appropriate discussion area. name of financial institution name of the savings account interest rate the account pays debit transaction fees (if any) record keeping fees other fees (be specific - state what services the fee covers and the cost) any other relevant features Based on the information researched, write a response explaining which financial institution you would choose and why. Be specific. You may choose your own institution if you think that it best suits your needs. (Thinking and Inquiry) Part 2: Investment Alternatives Assignment There are many different investment alternatives. Some of these options include: 1. 2. 3. 4. Stocks Mutual Funds Guaranteed Investment Certificates Canada Savings Bonds. investment. Research each of these investment options. Outline the risks involved and the potential return for each Based on what you know, which of the options might appeal more to: a student who is trying to accumulate funds for post-secondary schooling? an adult with a family and stable career Be sure to justify your decision and discuss how the idea of risk vs. return was a factor in making your decisions. (Thinking and Inquiry) a. b. Part 3: Credit Cards Purchases Mrs. Megamer decided she would like a new gaming system that sells for $585. Gather information about the interest rates and regulations for two different credit cards and compare the costs of purchasing the gaming system with each card. Use a purchase date of November 2 and a due date of the 27 of each month. The full amount is paid after 50 days. (Application) Part 1: Savings Accounts When it comes to saving, there are many different choices. In this activity, you will investigate various savings accounts from different financial institutions. Select three different financial institution to research the following information (two banks and a credit union). Assume your account will start with a balance of $1000. Collect the following information for a savings account from your financial institution and post it to the appropriate discussion area. name of financial institution name of the savings account interest rate the account pays debit transaction fees (if any) record keeping fees other fees (be specific - state what services the fee covers and the cost) any other relevant features Based on the information researched, write a response explaining which financial institution you would choose and why. Be specific. You may choose your own institution if you think that it best suits your needs. (Thinking and Inquiry) Part 2: Investment Alternatives Assignment There are many different investment alternatives. Some of these options include: 1. 2. 3. 4. Stocks Mutual Funds Guaranteed Investment Certificates Canada Savings Bonds. investment. Research each of these investment options. Outline the risks involved and the potential return for each Based on what you know, which of the options might appeal more to: a student who is trying to accumulate funds for post-secondary schooling? an adult with a family and stable career Be sure to justify your decision and discuss how the idea of risk vs. return was a factor in making your decisions. (Thinking and Inquiry) a. b. Part 3: Credit Cards Purchases Mrs. Megamer decided she would like a new gaming system that sells for $585. Gather information about the interest rates and regulations for two different credit cards and compare the costs of purchasing the gaming system with each card. Use a purchase date of November 2 and a due date of the 27 of each month. The full amount is paid after 50 days. (Application) All of them please
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