Growing a Business: Today you will help Mia, a business owner, calculate her monthly profit and loss, and devise a strategy to save up for new capital for her business. You must help the business owner open savings and checking accounts, grow her money faster with a certificate of deposit, and make monthly transaction decisions.

GOAL: When you leave class today, you will be able to:

  1. Analyze a budget to calculate revenue, expenses, and profit/loss
  2. Model how to open a deposit account at a financial institution
  3. Compare different interest-bearing accounts, including savings, checking and certificates of deposit, based on their interest rate, liquidity, minimum balance requirements and fee structure
  4. Describe how regular contributions and compounding frequency impact the growth of savings
  5. Summarize the effect of inflation and deflation on the price of goods and purchasing power over time

RIGHT NOW:

  1. Log in to everfi.com
  2. Complete Module 5: Growing a Business
  3. Factory Fashion Business