Take care of your pennies...

Thanks to all of you who wore your shirts today! They looked great and the picture in the paper will be great if it is in color! We'll do it again.
Don't forget your challenge to get new savings accounts by next Wednesday!

Bank Shirts

If anyone checks the blog over the fall break...what do you think of these designs for the shirt. The "tee shirt designer" thinks we should leave off the farmer. What do YOU think?

Stock Market Game Study

We will be participating in a stock market game study. You will receive a password and take 2 pretests - investor knowledge and mathematics. Here is the website
http://smgstudy.org/
Thanks!

Our Theme!!!

"Take care of your pennies and your dollars will take care of themselves!"

Here's a link Eric found:

https://www.cia.gov/library/publications/the-world-factbook/print/us.html

see what you think.

Adding Interest to Our Savings Accounts

HOW TO FIGURE SAVINGS
INTEREST FOR THE LCHS BANK!

Current balance multiplied by 3.5% (.035)
Divide that answer by 365 days
Multiply by number of days in the month in which the customer was active

Examples:

$10 x .035 = .35
.35/365 = .0009589
.0009589 x 11 days = .010


$50 x .035 = 1.75
1.75/365 = .0047945
.0047945 x 20 = .10

round up if the 3rd digit is 5 or higher

You then write the interest on the card and add it to the balance.
This should be done the first day of the month or as close to it as possible.


DAYS IN THE MONTHS:

August - 31
September - 30
October - 31
November – 30
December – 31
January – 31
February – 28
March – 31
April – 30
May - 31
June - 30
July - 31

Bank Theme

What theme should we use this year?

Market Economy?

We have been studying economic systems and how the US economy may be defined. Post a comment regarding our economy and if it is a true market economy or not. Provide evidence to back yourself up.