2.

05 Honors Savings Impacts Template

Part One—Laptop or Desktop Research

Retailer One_____________ Retailer Two____________

Brand / Style

Price

Technical Specifications (for your

needs)

Pos/Neg reviews

Once you've determined the best option for you, you will want to compare prices between retailers.
Using complete sentences, write a short summary of the results of your research. Your
summary should include a thorough description of the computer you've chosen to purchase
and an explanation of why this is the best option to suit your needs. Take note of the sources
you used; you'll need to cite them in your assignment.
Part Two—Develop a Savings Plan

Now that you know how much you need to save, research a savings option that will work for you.
Let's say you've already saved $100. Starting with that amount, research and determine the
following:

What kind of account will you use to save for

your computer?
What is the interest rate of the account?
Will the account earn simple or compound
interest?
How much will you add to the account every
month?
Where do you intend to cut back spending in
order to add to the account each month?
Considering the interest and the amount you
are adding to the account every month, how
long will it take you to save for your computer?

To calculate the monthly interest, use the formula (account balance x interest rate) ÷ 12. For
example, if you have $100 in the account and the interest rate is 1%, the monthly interest earned is
($100 x 1%) ÷ 12 = $0.08.

Using complete sentences below, write a summary of your computer savings plan by
answering the questions listed above. Again, include your calculations and take note of the
sources you used; you'll need to cite them in your assignment (MLA Format)