Jump Start Your Future - Question Sheet, Copyright © 2000, New Learner

H.T.S. Crest

Holy Trinity School

Jump Start Your Future:
Exploring Savings and Investment for Young People

Video Question Sheet

1. Identify three key elements required in order to accumulate wealth.

2. What is compound interest? Why is it important?

3. Outline the formula which can be used to calculate the effects of compound interest on an investment.

4. The above formula takes four factors into consideration. These factors will have a major impact on the growth of one's savings. Outline these four factors.

5. If we were to invest $1,000.00 today, which received 10% interest (compounded monthly), how much will this investment grow to in fifty years?

6. What is the Rule of 72?

7. What is meant by dollar cost averaging? What advantages are associated with dollar cost averaging?

8. What is a registered savings plan?

9. What is an RESP? What are the advantages and disadvantages associated with an RESP?

10. What is a CESG? What does it encourage people to do?

11. What is an RRSP? Why would a young person wish to use an RRSP?

12. Identify at least three resources which a young person can use in order to learn more about savings and investment.

13. Outline at least three advantages which young people have over older people when it comes to saving and investment.

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