Student Questions

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Use the spreadsheets to answer the following questions.
(Use Answer Sheet Template)
Using Millionaire1XX:

Using Millionaire2XX:

4. On Row 50, what is the amount of interest and the total amount?
5. On Row 100, what is the amount of interest and the total amount?
6. At what age did you become a millionaire? How many years did it take? Give the row number and the amount.
7. How many years difference between questions 3 and 7?

Using Millionaire3XX:

8. On Row 50, what is the amount of interest and the total amount?
9. On Row 100, what is the amount of interest and the total amount?
10. At what age did you become a millionaire? How many years did it take? Give the row number and the amount.

Visit the Primerica website and read the five articles about How Money Works.
When you are finished, open a word processing application and write an essay that answers the following questions. Give examples from the Primerica   website and also from the spreadsheets you created.

• Is it possible to become a millionaire by saving and investing part of your money?
• What has the most impact on the rate at which you money accrues: interest rate or initial investment?
• Explain the Rule of 72 and give specific examples from Millionaire1 on how it works.
• In Millionaire 4, if you invested $2400 at 15% interest when you were 25 years old:
•     how much money would you have at age 50?
•     at what age would you become a millionaire?
• Do you believe that it is realistic that you could save and invest $2400 and let that money accrue interest over a long period of time?

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