With these features, students can explore the concepts of saving and interest by setting up and managing checking and savings accounts using ClassBank (formerly ClassEquity). They can transfer money between accounts, understand the impact of interest rates, and set financial goals for bigger purchases.
How to turn on Savings:
Click Edit Class
Check the Savings check box to turn on
How to turn on Interest*:
Check the Savings check box
Choose the cadence that you would like to send interest.
weekly (on Fridays) to send interest every Friday.
biweekly to send interest on the first and third Friday of the month.
monthly to send interest on the first Friday of the month.
Prefer your students to work only with whole numbers? Check off "Round interest to nearest whole number." Otherwise, interest payments will be rounded to the nearest hundredth when applicable.
Wondering what Savings & Interest looks like on the student side? Find out more here!
*Interest is available to Pro subscribers