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EMA30S FINANCE UNIT PROJECT: Wise Money ManagementIn this project, you will be a financial planner and will prepare a presentation for high school students about wise money management. You will create an attractive handout or presentation that provides advice for young consumers on managing their money wisely. You may wish to use presentation software to present your project. Your handout or presentation will have three parts: a list of frequently asked questions (FAQs) about financial institutions and their answers; one presentation slide or handout that shows the advantages and disadvantages of two types of loans; and one presentation slide or handout that shows the effects of two types of investment.Get StartedTo begin the project, brainstorm questions that should be included in your FAQs. You should consider the following questions, and create one or two of your own.Your questions should cover the following broad topics: financial institutions, credit options, store promotions, and loans. You should also include questions on wise money management and how to avoid debt. If you wish, you can ask your classmates what questions they have about money management.Use the internet to research answers to your questions. As you research your answers, you may find more questions to ask. Write answers to each question in your own words. Answers need to cover the basic facts, but should be no more than a few sentences or a short paragraph.? What kind of financial institution should you choose?? What kind of account should you choose?? How can you keep my personal and financial information secure?? How can you use credit effectively?? What advice can you give about store promotions?? What kind of financial commitments should you avoid?? Question of your own:_____________________________________________? Question of your own:_____________________________________________RESEARCH LOAN OPTIONS *ROUGH COPY WORK*The next step in the project is to research different loan options. Begin by choosing something that students might take out a loan for— for example, a car, a computer, or a post-secondary school program. Research the cost. I am going to research buying ____________________Average cost ______________ Cost including taxes (13% in MB): _____________Next, choose two ways a student could borrow money to pay the cost. Payment options include taking out a line of credit or a student loan, or using a credit card. Research and compare the costs of the two loans you have chosen. For example, what is the interest rate on the line of credit compared to the credit card? Or, you could compare two different credit cards rates for the same time frame.Option 1: Principal: (include taxes if applicable) $____________ Interest Rate: ______%Term: _________ Interest Calculations:Total Value of loan:Option 2: Principal: (include taxes if applicable) $____________ Interest Rate: ______%Term: _________ Interest Calculations:Total Value of loan:ANSWER: Which option you would recommend students choose, and why?_________________________________________________________________________________________________________________________________________________________________________________________________________RESEARCH INVESTMENT OPTIONS *ROUGH COPY WORK*Next, you will research the information needed to inform students about wise investment strategies and planning for the future.Choose one type of investment, such as a Guaranteed Investment Certificate or a bank savings account. Research interest rates and terms of investment, and calculate the interest earned on two different investments: Option 1: Less moneyfor a longer term(i.e. $1000 for 20 years)Option 2: More moneyfor a shorter term(i.e. $2000 for 10 years)Name of Investment Type:________________________________From ________________________ (name of bank/financial institution) $____________invested for ___ yrsAt an interest rate of _____%Compounded __________Name of Investment Type:________________________________From ________________________ (name of bank/financial institution) $____________invested for ___ yrsAt an interest rate of _____%Compounded __________ANSWER: If students want to save money for the future, would they be better off investing a small amount of money for a longer term, or a larger amount of money for a shorter term?__________________________________________________________________________________________________________________________MAKE A PRESENTATIONYou are now ready to create your presentation. Decide whether you will present your information as a pamphlet or using presentation software. Your presentation needs to be attractive and interesting to high school students. It should encourage them to take an interest in managing their money.Your presentation should include:? an eye-catching title;? a list of FAQs and answers;? a slide or handout that shows which type of loan is a better option; and·? a slide or handout that shows whether it is better to invest a small amount of money for a longer term, or a larger amount of money for a shorter term.HAND IN BY: _________________________THIS BOOKLET OF YOUR ROUGH COPY WORK COMPLETED SELF-EVALUATION (& rubric for me to use to mark)FINAL COPY OF YOUR PROJECT (whatever format you decided to present it in, such as a powerpoint, prezi, poster, brochure, handout, etc.) ................
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