The value of a person's savings in the future is determined by the amount saved and the interest rate. The earlier people begin to save, the more savings they will be able to accumulate, all other things equal, as a result of the power of compound interest.
Standard detail
7.
Benchmark
Depth 1Parent ID: 1172FDC3236B4155B800FAEEF8D74086Standard set: Grades 5, 6, 7, 8
Original statement
Quick facts
- Statement code
- 7.
- List ID
- 7.
- Standard ID
- 344436F24A3D4BA5AC015379230CFA1A
- ASN identifier
- S2604558
- Subject
- Financial Literacy
- Grades
- 05, 06, 07, 08
- Ancestor IDs
- 1172FDC3236B4155B800FAEEF8D74086
- Source document
- National Standards for Financial Literacy (2013)
- License
- CC BY 3.0 US