Year+7+-+Week+2

MONEY MONEY MONEY

__Introduction (day 1): __

What could I buy with each of the following amounts:

$1, $10, $100, $1,000, $10,000, $100,000, $500,000, $1,000,000

Find a sensible item that you could buy with each of the above amounts. Ideally it should be something that you or your family might purchase in their lifetime. You do not have to spend the exact amount.

Create a table, with at least the following information:

amount, item, purchase price, change, place purchased

__Banking (remainder of the week): __

Investigate the cost of operating a bank account for a year. You need to select an account with at least the option of an EFTPOS card.

Compare at least four different accounts from at least two different banks.

Include information in table form to demonstrate the comparison of cost and the facilities available with a specific type of account.

Complete a cost calculation, with working, for operating each account for the following three scenarios:

A: Income $1,000 and 15 transactions each month, including one cheque B: Income $2,000 and 24 transactions each month, including two cheques C: Income $2,000 and 30 transactions each month, including two cheques; plus a VISA debit card issued for the account

Please note, you may not select a 'free' account available to only a specific sector of the community such as tertiary students. At least one account with a per transaction charge must be selected.

<span style="font-family: 'Comic Sans MS',cursive; font-size: 140%;">The cost should be calculated over a full year and then stated as a monthly cost.

<span style="font-family: 'Comic Sans MS',cursive; font-size: 140%;">__EXTENSION (optional):__

<span style="font-family: 'Comic Sans MS',cursive; font-size: 140%;">Investigate further accounts.

<span style="color: #ff0000; font-family: 'Comic Sans MS',cursive; font-size: 140%;">Work due September 18th