The table given below tells how much your savings will amount to at four per cent interest compounded semi-annually. One dollar a month is a little less than twenty-five cents a week. From this table, answer the following questions: 1. If you save one dollar a month, how much will you have in three years? Five years? Eight years? Ten years? 2. If you save four dollars a month—less than a dollar a week—how much will you have in six years? Ten years? 3. If you save ten dollars a month, how much will you have in seven years? Ten years? 4. If you save five dollars a month for ten years, will you have more or less than if you save ten dollars a month for five years? 5. Can you explain to the class how to read the table?
—From "Fifteen Lessons in Thrift". |