In this chapter, we will be learning about savings and investments, as well as credit and debt management. We will learn about different types of savings and investments and how they work. We will also learn how to calculate simple interest and compound interest for savings, and understand how changes in period, rate of interest, or compounding frequency can affect the future value of our savings. Additionally, we will learn about credit and debt management, which involves understanding how to use credit responsibly and manage debt effectively.
• Recognise various types of savings and investments
• Perform calculations involving simple interest and compound interest for savings, and hence explain the impact of changes in period, rate of interest or return and compounding frequency on the future value of savings
• Perform calculations involving the value of return of investments, and hence explain the factors that affect the return of investments and its impacts
• Compare and contrast potential risks, return and liquidity of various types of savings and investments
• Calculate the average cost per share for the investment of shares using the ringgit cost averaging strategy and explain the benefits of the strategy
• Solve problems involving savings and investments
• Explain the meaning of credit and debt, and hence describe the wise management of credit and debt
• Investigate and describe the advantages and disadvantages of credit card and ways to use it wisely
• Investigate and describe the impact of minimum and late payments for credit card usage
• Solve problems involving the use of credit cards
• Calculate the total amount of loan repayment and installment, with various interest rates and different loan periods
• Solve problems involving loans
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