Personal Finance and Wealth · Personal Finance

Banking and Compound Interest

Understanding how financial institutions work and the power of interest over time.

Key Questions

  1. 1Why is compound interest described as a double edged sword for savers and borrowers?
  2. 2How do banks use the money deposited by customers to generate profit?
  3. 3What factors should a consumer consider when choosing a savings account?

ACARA Content Descriptions

AC9HE7K05AC9M7N09
Year: Year 7
Subject: Economics & Business
Unit: Personal Finance and Wealth
Period: Personal Finance

Suggested Methodologies

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