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Interactives
Math in Daily Life


Put Your Money to Work

How can you be sure you'll have enough money to live comfortably when you retire? It's possible that you could win the lottery or inherit millions of dollars from a wealthy relative, but it's not very likely. Most of us, however, seem to be waiting for just such an improbable event to give us financial security later in life.

There is one fairly sure-fire way to increase your nest egg. You can "hire" the extra money you have today to go to work for you. You do this by putting it in a savings account where it will collect interest.

In this activity, find out how simple and compound interest can help your money grow. Take a look at a case study to see how the numbers work. When you've seen what interest can do for you, calculate your own savings using the calculator provided with this activity.

Get started: Take a look at a case study that explains simple and compound interest.

    


Will you have enough money when you retire? In this activity, find out how simple and compound interest can help your money grow. When you've seen what interest can do for you, calculate your own savings using the calculator provided with this activity.

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  "Math in Daily Life" is inspired by programs from For All Practical Purposes.

 
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