# 3E Economics par. 3.1

Reasons to save money
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Slide 1: Woordweb
EconomieMiddelbare schoolvwoLeerjaar 3

In deze les zitten 22 slides, met interactieve quizzen en tekstslides.

Lesduur is: 60 min

## Onderdelen in deze les

Reasons to save money

#### Slide 1 -Woordweb

Interest
Simple interest  <--------------> Compound interest
( usually ) when borrowing                        ( usually ) when saving        interest on fixed amount                           interest upon interest
interest settled every year ( period )

#### Slide 2 -Tekstslide

Stop Motion
Simple or compound interest?

How big is the interest difference between simple and compound interest?

#### Slide 3 -Tekstslide

compound interest
year 1: € 2,- x 1,10 = € 2,20
year 2: € 2,20 x 1,10 = € 2,42

#### Slide 4 -Tekstslide

Richard has € 4.000,- on his savings account on 1/1/2019 and the interest is 5%.
How much will be on his savings account on 31/12/2022?
A
€ 4.600
B
€ 4.631
C
€ 4.800
D
€ 4.862

#### Slide 5 -Quizvraag

compound interest
4.000 x 1,05 = 4.200
4.200 x 1,05 = 4.410
4.410 x 1,05 = 4.630,50
4.630,50 x 1,05 = 4.862,03

#### Slide 6 -Tekstslide

Richard has € 4.000,- on his savings account on 1/1/2019 and the interest is 5%.
How much will be on his savings account on 31/12/2052?
Do you feel like calculating this?
A
Yes
B
No

#### Slide 7 -Quizvraag

compound interest
4.000 x 1,05 = 4.200
4.200 x 1,05 = 4.410
4.410 x 1,05 = 4.630,50
4.630,50 x 1,05 = 4.862,03

4.000 x ( 1,05 ) ^ 4 = 4.862,03

#### Slide 8 -Tekstslide

compound interest
End amount = 4.000 x (1,05)^4 = 4.862,03

End amount = 4.000 x (1,05)^34 = 21.013,39

Formula
E = B x (1+p)^t

#### Slide 9 -Tekstslide

compound interest
year 1: € 2,- x 1,10 = € 2,20
year 2: € 2,20 x 1,10 = € 2,42

End amount = 2 x (1,10)^2 = 2,42

Formula
E = B x (1+p)^t

939,39
904,50
867,61
886,74
€ 700, 8yr, 3%
€ 750, 2,5yr, 6%
€ 800, 3yr, 5,5%

#### Slide 11 -Sleepvraag

Hw.
Par. 3.1 assignments 3

Assignments from the paragraphs:
Par. 3.1 assignments 1, 2, 4, 5, 6, 7, 10

#### Slide 12 -Tekstslide

Par. 3.1 Question 3a
A
500 x 0,10 x 5
B
500 x 0,10 x 5 + 500
C
500 x ( 1,10 ) ^ 5
D
500 x ( 1,10 ) ^ 5 - 500

#### Slide 13 -Quizvraag

Par. 3.1 Question 3b
A
1127 - 8 x 0,10 x 1127
B
1127 / ( 1,10 ) ^ 8

#### Slide 14 -Quizvraag

Par. 3.1 Question 3c
A
500 x 0,10 x 8
B
500 x 0,10 x 8 + 500
C
500 x ( 1,10 ) ^ 8
D
500 x ( 1,10 ) ^ 8 - 500

Insurance

#### Slide 16 -Woordweb

Phone theft insurance. 30 students in class, chance of stolen phone is 10%, loss € 400,-.
What premium should the teacher minimally ask?
( no euro sign, dots or decimals, so f.e. 50 )

#### Slide 17 -Open vraag

Number of phones stolen = 10% x 30 = 3
Total damage = 3 x 400 = 1.200
Premium = 1.200 / 30 = € 40,-

#### Slide 18 -Tekstslide

Would you take the phone insurance for € 40,-?
A
Yes
B
No

#### Slide 19 -Quizvraag

Insurance
Voluntary:
You can decide yourself whether you insure or not
Based on chance of damage, size of damage and premium

Mandatory:
F.e. basic health insurance
car insurance for damage to others

#### Slide 20 -Tekstslide

Insurance
Non-life insurance <-------------> Life insurance

Non-life insurance: f.e.  - damage, health

Life insurance: f.e. - at passing away for relatives
- at life as extra on top of your pension, old age benefit

#### Slide 21 -Tekstslide

Hw.
Par. 3.1 assignments 9

Assignments from the paragraphs:
Par. 3.1 assignments 1, 2, 4, 5, 6, 7, 10